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Navy Awards Raytheon $93 Million For SM-6

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Raytheon [RTN] Sept. 9 said it won the first of several planned low rate initial production (LRIP) contracts to build Standard Missile-6 systems for the Navy. "Standard Missile-6 has been on budget and on schedule since the program started in 2004," Frank Wyatt, vice president of Raytheon's Naval Weapon Systems, said in a statement. "LRIP clears the way for delivery to the warfighter of this integral weapon system." The $93 million contract includes the production of missiles and delivery of…

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