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Raytheon Gets $396M Navy Modification to Procure Standard Missile-6 Production Materials

Raytheon‘s (NYSE: RTN) missiles systems business has received a $395.5M contract modification to procure materials and spares needed for fiscal 2017 through 2018 production of the Standard Missile-6.

The award holds options that may raise the previously awarded contract’s maximum potential value to $579.7M, the Defense Department said Friday.

The company will perform work in Arkansas, Arizona, Massachusetts, Ohio, California, Alabama, Texas, the U.K. and other locations through September 2022.

The Navy will obligate $484.4M in weapons procurement funds allotted for fiscal 2017 through 2018.

The SM-6 is usable in active and semi-active radar modes, and incorporates advanced fuzing techniques.

The service branch intends to arm Aegis-equipped cruisers and destroyers with new SM-6 warheads that will feature an anti-surface function.

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