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U.S. Navy Awards Raytheon $256 Million to Develop Tactical Tomahawk.

LEXINGTON, Mass.--(BUSINESS WIRE)--June 3, 1998--Raytheon Systems Company, a unit of Raytheon Company (NYSE:RTNA)(NYSE:RTNB), has been awarded a $256 million cost-plus, fixed-fee contract for engineering and manufacturing development (EMD) of a more versatile, lower cost version of the Tomahawk Cruise Missile, designated the Tactical Tomahawk. The U.S. Navy's Naval Air Systems Command, Patuxent River, Md., is the contracting agency.

The award includes firm pricing for 1,343 missiles over 5 years, valued at nearly $800 million in fiscal 1999 dollars, with additional production potential beyond that time period. The contract also includes options during EMD for an additional $40 million of flight test support. EMD is expected to be complete in 2001 with production beginning in 2002.

Tomahawk is a precision strike, surface-to-surface missile launched from ships or submarines against high value, heavily defended targets. The missile has been in production since 1980, and more than 400 havebeen fired in highly successful strategic strikes during Operation Desert Storm, the subsequent Iraqi strikes in 1993 and 1996, and in Bosnia in 1995. Currently, the U.S. Navy deploys Tomahawks aboard cruisers and destroyers and SSN 688 attack submarines. In 1999, the United Kingdom's Trafalgar and Swiftsure class submarines will also be equipped with Tomahawks.

The current Tomahawk Baseline Improvement Program (Block IV) provides the foundation for the Tactical Tomahawk initiative, which addresses the Navy's requirement for a missile that can rapidly respond to a Marine or Army "call-for-fire" against time-sensitive targets. Tactical Tomahawk adds the ability to retarget a missile in flight, to loiter over the battlefield for more than two hours awaiting tasking, and, in addition, to provide target assessment photos through the use of a battle damage imagery camera.

"Raytheon has worked closely with the Navy to create a Tomahawk that meets the Navy's emerging warfighting needs and provides an affordable long-term capability to replenish the current inventory and dramatically reduce the total ownership cost," says David L. McPherson, general manager, Defense Systems segment, Tucson, Ariz. "The enabling element is an acquisition and investment plan that fits entirely within the currently projected Navy Tomahawk budget and saves hundreds of millions of dollars over the Tactical Tomahawk weapon system life cycle."

The Tactical Tomahawk concept, developed jointly by Raytheon and the Navy, significantly reduces unit cost by simplifying the design, consolidating subassembly units, and replacing the current turbo-fan engine with a less expensive turbo-jet engine. Introduction of commercial processes and components, as well as design-for-manufacture concepts, further lower cost. Due to increased reliability, Tactical Tomahawk will have a 15-year recertification interval, dramatically reducing its life cycle cost.

Raytheon Company, based in Lexington, Mass., is a global technology leader with worldwide sales of more than US$20 billion and more than 118,000 employees. The company provides state-of-the-art products and services in the areas of commercial and defense electronics, engineering and construction, and business and special mission aircraft. Raytheon has operations throughout the United States and serves customers in more than 80 countries around the world.

 CONTACT: Raytheon Company
 Dave Shea, 703/284-4245

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Publication:Business Wire
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Geographic Code:1USA
Date:Jun 3, 1998
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