Raytheon gets USD700m NORAD contract.
M2 EQUITYBITES-April 2, 2015-Raytheon gets USD700m NORAD contract
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Raytheon company (NYSE: RTN) said it was awarded a USD700 million indefinite-delivery/indefinite-quantity contract to support threat warnings and assessments for the North American Aerospace Defense Command Cheyenne Mountain Complex.
The company will provide sustainment services and products supporting the Integrated Tactical Warning/Attack Assessment and other systems covered by the contract. The program provides NORAD authorities with accurate, timely and unambiguous warning and attack assessment of air, missile and space threats.
"Raytheon has deep expertise in sustainment and modification solutions that include sensor and software systems, radars, command and control, and range-engineering services," said David Wajsgras, President of Raytheon Intelligence, Information and Services. "We look forward to working closely with the Air Force in this important area of national security."
The contract work will be performed at Peterson AFB, Colo.; Cheyenne Mountain Air Force Station, Colo.; Vandenberg AFB, Calif.; and Offutt AFB, Neb., and is expected to be complete by March 30, 2020.
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