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MDA Awards $87M to Raytheon for SM-3 Materials; Taylor Lawrence Comments

SM-3-Block-IIARaytheon (NYSE: RTN) has received an $87 million contract to supply materials used to produce missile defense interceptors for the Missile Defense Agency.

The contract covers the production of up to 17 Standard Missile-3 Block IIA weapons as the U.S. and Japan plan to conduct testing on the interceptors and carry out sea and land deployments in Poland or Romania in 2018,  Raytheon said Wednesday.

The SM-3 Block IIA interceptor has a larger kill vehicle and rocket motors designed to counter ballistic missile threats.

“Our Japanese partners have been tremendous allies in this development program, and together we’ve taken ballistic missile defense to the next level, ” said Taylor Lawrence, president of Raytheon Missile Systems.

Raytheon expects to receive a follow-on contract for additional parts and components related to SM-3 Block IIA by early 2016.

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