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Raytheon Gets $467M MDA Standard Missile-3 Block IB Order

Raytheon (NYSE: RTN) has received a $466.9 million order to manufacture, test and deliver Standard Missile-3 Block IB interceptors to the Missile Defense Agency.

The company said Tuesday it will supply 44 Block IB missiles under the fiscal 2018 order issued as part of a three-year $2.35 billion production contract announced in 2015.

Mitch Stevison, vice president of Raytheon’s air and missile defense systems business, said the missile is designed to help address upper-tier missile defense requirements of U.S. and allied naval forces.

The SM-3 IB variant works to identify and neutralize airborne threats with a two-color infrared sensor and boosted steering and propulsion technology.

Raytheon will manufacture the interceptors at its Space Factory in Arizona and perform integration work at a company facility in Alabama.

The U.S. Navy intends to use the interceptor to engage short and intermediate-range ballistic missiles as part of regional defense efforts.

The missile was demonstrated at a multinational operational exercise held off the coast of Scotland.

A land-based site in Romania presently uses the IB missile variant.

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