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Raytheon to Build Additional Guided Missiles for US Navy

Raytheon logoRaytheon (NYSE: RTN) has been awarded a $559, 206, 957 contract with the Missile Defense Agency to produce additional guided missiles for the U.S. Navy.

The company will build 44 Standard Missile-3 Block IB all-up rounds and design the third stage rocket motor, Raytheon said Monday.

Raytheon will assemble the SM-3 Block IB at its Redstone Arsenal production facility through April 28, 2018.

The U.S. government also plans to buy additional missiles, bringing the total quantity to 52 units.

Raytheon designed the SM-3 Block IBs to help the Navy defend against short to intermediate-range ballistic missiles.

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