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Space

Navy Awards Raytheon $368 Million in Contracts for SM-6

DDN

Tuesday, July 6th, 2010

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The Navy awarded Raytheon [RTN] contracts totaling $368 million with potential modifications for low rate initial production to manufacture Standard Missile-6 (SM-6) systems over a three-year period. "Low rate initial production begins our process of delivering this integral weapon system to the warfighter," said Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line. "Standard Missile-6 remains on schedule, and we brought in the first three years of production well under the Navy's budget." The contracts include…

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