Javelin Joint Venture Awarded $111.6 Million U.S. Army contract

TUCSON, Ariz. , Sept. 4, 2008 /PRNewswire/ -- The Raytheon Company (NYSE: RTN)-Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $111.6 million U.S. Army Global War on Terror supplemental contract to produce additional Javelin missiles and command launch units.

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. The joint venture expects to deliver the missiles and CLUs to the U.S. Army in the spring of 2011.

"The Javelin is very effective in the battlefield. It weighs only 49 pounds and is soft launched, which means the rocket motor ignites outside the launch tube. Soldiers can fire Javelin from inside a protective enclosure," said Duane Gooden , Raytheon Missile Systems' Javelin program director and president of the Javelin Joint Venture. "Javelin's long-wave imaging infrared technology also allows use of the weapon during poor weather conditions."

The Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications. Its anti-armor defense capabilities are critical to mission success in multiple environments. Javelin is currently in service with the U.S. Army, U.S. Marine Corps and 10 allied customers.

"Javelin's infrared command launch unit is designed for easy and quick target engagement," said Hady Mourad , Lockheed Martin's vice president of the Javelin Joint Venture. "Its thermal sight is also an excellent surveillance device, which has been demonstrated in the Global War on Terror."

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 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 72,000 people worldwide.

Headquartered in Bethesda, MD , Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.

SOURCE Raytheon Company



Loading