Raytheon Awarded $491M for Lot 28 Air-to-Air Missiles

Raytheon logoRaytheon (NYSE: RTN) has received a $491, 478, 068 contract from the U.S. Air Force to produce lot 28 Advanced Medium Range Air-to-Air Missiles and associated equipment.

The Defense Department said Monday the contract includes orders from South Korea, Thailand, Oman and Singapore through the agency’s foreign military sales program.

The AMRAAM system is comprised of a captive air training missile, munitions built-in-test reprogramming equipment and an airborne instrumentation unit.

Raytheon will perform work in Tucson, Arizona, and is scheduled to complete the work by Feb. 28, 2017.

USAF is obligating $278, 874, 197 at the time of award from fiscal 2014 production funds.

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