Raytheon to Get $403 Million for Missile Defense Work
The U.S. Department of Defense awarded 19 contracts on Wednesday, worth $3.3 billion in aggregate. One of the largest awards went to Waltham, Mass.-based Raytheon .
The contract in question, actually a "modification" of an existing indefinite-delivery/indefinite-quantity, or IDIQ, contract, requires Raytheon to continue performing software maintenance, modeling, and simulation work on, and provide engineering support for, X-Band radars used in Ballistic Missile Defense System test planning. For this work, Raytheon will be paid $402.9 million.
Raytheon will be doing this work for the U.S. Missile Defense Agency through at least Oct. 31, 2016. According to DoD, the "modification" announced today is actually larger than the original contract Raytheon won back in November 2011. The total value of this contract for Raytheon has now surpassed $710 million.
The article Raytheon to Get $403 Million for Missile Defense Work originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.