(RTTNews) -  Tuesday, defense contractor Raytheon Co. (RTN: News ) said that it has been awarded a $64 million supply performance-based logistics contract to establish and maintain inventory levels for select secondary Patriot parts.

The sole-source, firm-fixed-price contract, which has been awarded by the U.S. Army Aviation and Missile Command at Redstone Arsenal in Alabama, is a follow-on contract to continue to provide spare parts to the warfighter.

Raytheon Integrated Defense Systems, or IDS, which is the prime contractor for domestic and international Patriot air and missile defense systems and systems integrator for Patriot advanced capability-3 missiles, will perform work under this contract at the Integrated Air Defense Center in Andover, Massachusetts, with support from Raytheon Technical Services Company in El Paso, Texas, and Norfolk, Virginia.

The company said that under the previous contract, Raytheon increased parts availability by up to 40%, decreased response time for soldier requests and reduced the overall inventory of parts required. It added that it intends to drive further improvement in all three categories under the follow-on contract.

Also, the Raytheon Company - Lockheed Martin (LMT) Javelin Joint Venture reported today that it had received a $214 million U.S. Army contract for the production of the Javelin Close Combat Weapon System, which includes the Javelin missile, command launch units or CLUs, and training and field support.
According to the company, Javelin is the world's first man-portable, fire-and-forget, medium-range missile system. The compact, lightweight missile is designed for one-soldier operations in all environments.

Raytheon announced on October 5 that it won a $44 million, multi-year contract to provide combat training to the U.S. military and its allies in Kuwait, which will be administered through the U.S. Third Army Command. Also, on October 2, the company reported that it has received a $73.3 million contract from the U.S. Army for its Excalibur precision-guided missiles.

RTN is currently trading on the New York Stock Exchange at $46.40, up 0.61%.

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by RTT Staff Writer

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