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Business/Financial

Navy Likely To Terminate ERGM Program In Coming Days

DDN

Monday, March 24th, 2008

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By Geoff Fein Industry sources last week said it appears likely that in the coming days the Navy will terminate the Extended Range Munition (ERM) effort after Raytheon [RTN] has been unable to demonstrate reliability or consistency in its latest Extended Range Guided Munition (ERGM) tests. "At the present time, [the] Navy cannot confirm," a Naval Sea Systems Command spokeswoman said. Raytheon conducted a series of engineering tests in early February to determine what, if any, tweaks and adjustments would…

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