Raytheon Gets Potential $848M Contract to Help Navy Build ‘Over-the-Horizon’ Weapon System

Raytheon (NYSE: RTN) has secured a potential $847.6 million contract to produce an “over-the-horizon” weapon system for the U.S. Navy‘s littoral combat and frigate ships.

OTH-WS will consist of a fire control suite and launching mechanisms with encanistered missiles, the Defense Department said Thursday.

The firm-fixed-price contract has a $14.8 million initial value and also includes training courses and devices, mission support equipment and engineering services.

Work will run through May 2020 at various locations in Kentucky, Arizona, Texas, Norway and Germany.

The Naval Sea Systems Command received one offer for project and will obligate $14.8 million at the time of award from the service branch’s fiscal 2018 research, development, test and evaluation; and “other” procurement funds.

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