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  • Wednesday, April 24, 2024

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.

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