Raytheon Lands $300M Contract to Produce TOW Missiles for Army, Marine Corps, FMS Customers

Raytheon (NYSE: RTN) has received a potential $300.1 million contract to provide tube-launched, optically-tracked wireless guided missiles to the U.S. Army, U.S. Marine Corps and three foreign military sales customers.

The fixed-price-incentive contract includes TOW weapon purchases from Lebanon, Jordan and Morocco, the Defense Department said Thursday.

Raytheon’s missile systems business unit will perform work in Tucson, Arizona; and Farmington, New Mexico through July 31, 2020.

The Army Contracting Command obligated the full contract amount from the Army’s fiscal 2010, 2015, 2016 and 2017 other procurement funds; foreign military sales funds; and American Recovery and Reinvestment Act funds.

Check Also

Norm Tew VP and GM Boeing

Boeing Submits Bid for Next-Generation Interceptor Program; Norm Tew Quoted

Boeing (NYSE: BA) has submitted its proposal for the Missile Defense Agency’s Next-Generation Interceptor program and offered a design that builds on the company's six decades of experience in weapons systems and strategic missile development.

AI

Deloitte to Help DoD Create AI Dev’t Environment Under $106M Task Order

Deloitte Consulting has received a potential four-year, $106.4M task order to provide a development environment for the Department of Defense's Joint Artificial Intelligence Center to test, validate and implement AI-based tools.