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Raytheon to Begin Navy Missile Rapid Deployment Capability Phase 2 Work Under $349M Contract

Raytheon (NYSE: RTN) has received a potential $349M cost-plus-incentive-fee contract to continue modernizing the Tomahawk cruise missile system as part of the U.S. Navy's rapid deployment capability efforts. The company will begin phase 2 of the Maritime Strike Tomahawk program after completing design, integration, test and evaluation efforts under the program’s first phase, the Department of Defense said Wednesday.

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