Raytheon Co. (RTN) Monday said it has been granted a contract worth $108 million, by the U.S. Navy, for continued production of Standard Missile-2, or SM-2, all-up rounds. The award brings the total fiscal year 2011 contract value to more than $200 million.
A majority of the missiles will be sold to U.S. allies through foreign military sales. SM-2 provides high- and low-altitude intercept capabilities and performance against advanced anti-ship missile threats.
"The SM-2 production line is open for all our allies' requirements, and there will be full mission support available throughout the lifecycle of this critical asset," said Michael Campisi, Raytheon Missile Systems' senior director for SM-2 and SM-6 production.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.