Raytheon awarded $149 million for Standard Missile-6s
TUCSON, Ariz., June 2, 2015 /PRNewswire/ — The U.S. Navy awarded Raytheon Company (NYSE: RTN) an additional $149 million for 74 Standard Missile-6 all up rounds, spares, containers and services.
When combined with the nearly $110 million long-lead material purchase made in March 2015, the total full-rate production contract for Fiscal Year 2015-2016 is $259 million. Future contract modifications include options which, if exercised, would bring the cumulative value of this contract to nearly $563 million.
“The SM-6 has advanced capabilities and speed,” said Mike Campisi, SM-6 senior program director. “Combatant commanders want their deployed ships armed with as many of these interceptors as possible, and we’re ramping up production to meet that need.”
SM-6 is a surface-to-air supersonic missile capable of successfully engaging manned and unmanned aerial vehicles and fixed- and rotary-wing aircraft. It also defends against land-attack and anti-ship cruise missiles in flight.
The SM-6 deployed for the first time in 2013, and Raytheon has delivered more than 160 missiles. The missile’s final assembly takes place at Raytheon’s state-of-the-art SM-6 and SM-3 all-up-round production facility at Redstone Arsenal in Huntsville, Ala.