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Raytheon Gets $106 Mln US Navy Contract - Update

Defense contractor Raytheon Co. (RTN) said Thursday it received a $106 million contract from the U.S Navy for production of the Joint Standoff Weapon C-1.

Waltham, Massachusetts-based Raytheon said the contract comprises funding for fixed-price manufacture of more than 350 weapons, container cables and test units, and also includes $17.2 million to transition the factory from producing the JSOW C to the JSOW C-1.

JSOW is indicated as a family of low-cost air-to-ground weapons that provides an integrated GPS/Inertial Navigation System to lead the weapon to the target. JSOW C-1 adds moving maritime target capability and a two-way data link to the combat-proven JSOW.

The JSOW family of weapons is currently incorporated on a variety of platforms including the F/A-18 and several blocks of the F-16. JSOW is also scheduled for integration on the Joint Strike Fighter

Production is slated to begin in October, and all-up round delivery to the U.S. Navy and select coalition partners is expected to begin in March 2010. Raytheon's JSOW program provides more than 280 jobs in Tucson, Arizona and scores of suppliers associated with the program provide employment to hundreds of people across the U.S.

RTN is currently trading at $36.20, down $0.13 or 0.36%, on a volume of 0.20 million shares on the NYSE.

by RTT Staff Writer

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