Raytheon Wins $267 Million for Radar Systems Defense Contracts
On the final day of its fiscal year, the Department of Defense announced 95 separate defense contracts Monday, worth $5.526 billion in total. Raytheon won three of them, worth more than $266 million, namely:
- $230 million: A contract modification exercising an option to continue having Raytheon operate and sustain the Missile Defense Agency's X-Band radar system from Oct. 1, 2013 through Sept. 30 2014.
- $29.5 million: A new firm-fixed-price contract to design, manufacture, and install equipment needed to set up a maintenance facility to support the AN/APY-10 radar system used by Boeing's new P-8A Poseidon sub-hunting aircraft. Work on this contract should be complete by March 31, 2016, but the contract does provide for optional extensions which, if exercised, could lengthen its duration and increase its total value past $39 million.
- A not-to-exceed $7.2 million contract modification to produce hardware upgrades for the Navy's Dual Band Radar (DBR) and Common Array Power Systems, required to implement DBR power system interface modifications aboard the new nuclear aircraft carrier USS Gerald R. Ford (CVN 78). This work should be completed by March 2015.
The article Raytheon Wins $267 Million for Radar Systems Defense Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.
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