14 January 2014
The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) an undefinitized contract action valued at USD156m for the procurement of Standard Missile-3 Block IB guided missiles.
The SM-3 missile is designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by colliding with them in space, a concept sometimes described as “hitting a bullet with a bullet.” More than 155 SM-3s have been delivered to the US and Japan. The SM-3 Block IB will be deployed at sea and on land.
Raytheon is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. The company´s website is at www.raytheon.com and on Twitter @raytheon.