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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