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Navy/USMC

Raytheon Nabs $467 Million MDA Contract For 33 More SM-3 IBs

Wednesday, July 18th, 2018

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Raytheon Nabs $467 Million MDA Contract For 33 More SM-3 IBs

A SM-3 1B launching off a Navy cruiser in Oct. 2013. Photo: Missile Defense Agency.

The Missile Defense Agency (MDA) awarded Raytheon [RTN] a $467 million contract to produce, test, and deliver 44 Standard Missile (SM)-3 Block IB interceptors, the company said on Wednesday.The company explained this award is the fiscal year 2018 portion of an earlier $2.4 billion contract announcement in 2015 for planned FY '15 through FY '18 SM-3 production.That initial contract put a lid on a previously awarded $541 million contract effective April 2015 for 44 interceptors plus three one-year option periods…

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