Raytheon Gets $129M Contract Modification for US, Intl Military Wireless-Guided Missiles

Raytheon logoRaytheon (NYSE: RTN) has been awarded a two-year, $129.4 million contract modification to produce tube-launched, optically-tracked, wireless-guided missile systems for the U.S. Army and the U.S. Marine Corps.

The Defense Department said Monday the company will also deliver TOW missiles to Morocco and Bahrain under the foreign military sales program.

Raytheon will perform work in Tucson, Arizona and in Farmington, New Mexico through Aug. 4, 2018.

The Army National Guard Bureau is the contracting activity and obligated the full amount of the modification at the time of award.

According to Raytheon, the TOW system is a long-range precision, heavy anti-tank and assault weapon designed to integrate with the Army’s Stryker, Bradley Fighting Vehicle, ITAS High-Mobility Multipurpose Wheeled Vehicle and Light Armored Vehicle platforms.

TOW missiles have been deployed globally to support NATO, United Nations, coalition and peacekeeping operations, Raytheon noted.

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