Hello, Guest!
  • Thursday, April 25, 2024

Raytheon Gets $415M MDA Contract Modification for SM-3 Block IIA Materials


Raytheon (NYSE: RTN) has secured a $415.4 million contract modification from the Missile Defense Agency to obtain a limited subset of items needed to produce, test and deliver a total of 24 Standard Missile-3 Block IIA systems.

The award raises the contract’s potential value from $694.3 million to $1.10 billion and also funds the procurement of materials for up to four additional SM-3 missiles under the foreign military sales program, the Defense Department said Monday.

MDA will initially obligate $161 million in fiscal 2018 procurement and defense-wide funds on this modification.

The company’s missile systems business will perform work in Tucson, Arizona, through April 2022.

Video of the Day

Related Articles

SAIC’s Jay Meil on Joint Warfighting & AI Artificial Intelligence

SAIC’s Jay Meil on Joint Warfighting & AI

Joint warfighting is a major focus for the Department of Defense as it works to adapt to the challenges of the modern battlefield, a constantly shifting landscape in which success is determined by data and digital capabilities. Interested in getting a comprehensive look into the intricacies of joint warfighting initiatives? The Potomac Officers Club’s Joint Coalition

Mark Procaccini Assumes Operations SVP Role at Raft; Shubhi Mishra Quoted Executive Moves

Mark Procaccini Assumes Operations SVP Role at Raft; Shubhi Mishra Quoted

Government technology company Raft has appointed GovCon industry veteran Mark Procaccini as senior vice president of operations. The company said Tuesday Procaccini will bring his years of experience in mergers and acquisitions, contracting, private equity and integration to this newly created position, where he will help scale operations to support Raft’s growth initiatives. “Mark is

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted Financial Reports

RTX Posts 12% Sales Growth in Q1 2024; Chris Calio Quoted

RTX (NYSE: RTX) has reported first quarter 2024 sales of $19.3 billion, a 12 percent increase from the prior-year period, and posted GAAP earnings per share of $1.28, up 32 percent compared to the previous year. In an earnings statement published Tuesday, RTX said it recorded $1.3 billion in gross proceeds from the divestiture of