Raytheon Receives $21 Million for NATO SEASPARROW MK48 Program

TEWKSBURY, Mass. , July 23, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $21.2 million U.S. Navy contract for components of the NATO SEASPARROW MK48 Guided Missile Vertical Launch System (GMVLS).

The MK48 launches SEASPARROW and Evolved SEASPARROW (ESSM) missiles to defend against high-speed, highly maneuverable anti-ship missiles.

Under this modification to an existing contract, Raytheon will deliver 68 MK20 MOD 1 canisters and 156 spare frangible covers, critical components of the MK48 GMVLS. The canisters will support systems currently in use by the Canadian Navy, while the frangible covers will be delivered to Canada , the Netherlands , and Belgium .

"The MK48 GMVLS provides essential missile defense capabilities to protect and defend our international allies," said Raytheon Integrated Defense Systems' (IDS) Charles "Tom" Bush , vice president of Seapower Capability Systems. "Raytheon is committed to providing reliable and effective system components that warfighters can depend on, the first time and every time."

The NATO SEASPARROW Consortium, which comprises the U.S. and 11 other countries, will fund the contract. Work will be performed at Raytheon's Seapower Capability Center, Portsmouth, R.I. , and by a major subcontractor in Hoogeveen, Netherlands . Work is scheduled to be completed by December 2010 . Raytheon Missile Systems, Tucson, Ariz. , leads the cooperative development efforts for ESSM.

Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 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.

SOURCE Raytheon Company