Raytheon Wins 3 Defense Contracts Worth $196 Million Combined
The Department of Defense announced 16 new defense contracts worth a combined $712.1 million on Tuesday. Raytheon won three of them -- including the day's biggest award.
Worth $172.7 million, the award in question modifies an existing contract for the supply the U.S. Missile Defense Agency with AN/TPY-2 multi-function, X-band radar systems, and spare parts for same. Delivery under the contract will now be extended from December 2013 through March 2016, and the contract's value increases to more than $753.4 million.
Raytheon won the following awards:
- $16.3 million: another contract modification, this one for the performance of maintenance work on U.S. Navy Standard Missiles, and all-up-round recertifications of same. All work is to be completed by December 2014.
- $6.9 million: also a contract modification, this one relating to Taiwan Surveillance Radar program follow-on support related to system upgrades under a foreign military sales contract. Raytheon is creating a controlled site-like testing environment for "build deployment" and system troubleshooting for the Taiwanese system, and is expected to complete its work by Nov. 8, 2017.
The article Raytheon Wins 3 Defense Contracts Worth $196 Million Combined 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.