Raytheon, U.S. Navy Sign $241.8 Million Phalanx Close-In Weapon System Orders

LOUISVILLE, Ky ., Nov. 9, 2007 /PRNewswire/ -- Raytheon Company (NYSE: RTN) is being awarded two contracts totaling $241.8 million to overhaul and upgrade 34 Phalanx Close-In Weapon Systems for the U.S. Navy and one system for the Royal Australian Navy. Raytheon will also build 12 Land-Based Phalanx Weapon Systems for the U.S. Army and provide associated hardware to all three services under the agreements.

Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks and destroys enemy threats. More than 850 sea-based systems have been built and deployed in the navies of 25 nations.

"These systems represent our commitment to provide vital protection against threats ranging from supersonic anti-ship missiles and small, fast surface craft at sea to rockets, artillery and mortars in the land-based configuration," said Kevin Peppe , Raytheon's CIWS systems director.

"Phalanx is a critical element in the ship self-defense role," said Peppe. "LPWS has the proven capability to defeat in-coming threats while they are still airborne, providing unequalled protection to forces and civilians on the ground."

Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

SOURCE Raytheon Company



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