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Raytheon Awarded $243 Million For AMRAAM Production.

LEXINGTON, Mass.--(BUSINESS WIRE)--June 22, 1998--Raytheon Company (NYSE:RTNA, RTNB), will produce 813 AIM-120B and AIM-120C Advanced Medium-Range Air-to-Air Missiles (AMRAAM) for the U.S. Aeronautical Systems Center, Eglin Air Force Base, Fla., under a new $243 million contract.

AMRAAM is a software-driven, radar-guided missile that gives pilots the ability to "launch and leave" and to engage multiple targets during a single engagement. More than 10,000 missiles have been produced for U.S. and international customers.

The award includes a $168.2 million firm-fixed price contract for Lot 12 (12th annual) production of 554 AMRAAMs, which supports missile deliveries, program engineering and logistic services through July 2000 to the U.S. Air Force and Navy as well as Foreign Military Sales to Italy, Greece and Turkey. It also includes options for annual purchases of Lots 13 through 15.

Concurrently, Raytheon also has received contracts totaling $75 million for 259 missiles for Department of Defense-administered direct commercial sales to three allied countries.

"This award marks the beginning of a new era for AMRAAM," says David L. McPherson, executive vice president of Raytheon Systems Company and general manager of the Defense Systems Segment. "It provides our customer with a firm contract and three annualized options, clearly demonstrating the cost benefits of the merger of Raytheon with the former Hughes Aircraft Company."

Work will be performed at Raytheon facilities in Andover, Mass., and Tucson, Ariz. Final assembly and delivery will occur in Tucson.

AMRAAM is operational on the F-15, F-16, F/A-18, the German F4F, the United Kingdom's Sea Harrier, as well as the Norwegian Advanced Surface-to-Air Missile System. AMRAAM is currently being integrated on the F-22, EF-2000, JAS-39 Gripen, JA-37 Viggen, Harrier II Plus, Tornado, and the HAWK-AMRAAM system. AMRAAM also has been demonstrated on a HMMWV-based system, called HUMRAAM. 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.

Note to Editors: This release amplifies the April 13, 1998 announcement by DoD.

CONTACT: Raytheon Company

Dave Shea, 703-284-4245
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Publication:Business Wire
Date:Jun 22, 1998
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