Raytheon Wins $2.1Bln Contract To Make More Standard Missile-3 Interceptors - Pentagon

WASHINGTON (UrduPoint News / Sputnik - 27th March, 2020) The Raytheon Company has won a more than $2.1 billion Missile Defense Agency contract to manufacture more Standard Missile (SM-3) interceptors for the US military, the Department of Defense said in a press release.

"Raytheon Missile Systems [of] Tucson, Arizona is being awarded a sole-source, multi-year contract for $2,139,779,656," the release said on Thursday.

"This multi-year contract is for fiscal years (FY) 2019-2023."

The Defense Department explained that Raytheon will provide the management, material and services associated with the procurement, manufacture and assembly of the Standard Missile-3 Block IB interceptors for the United States and its foreign military sales partners.

Work on the contract will be performed in Tucson, Arizona and Huntsville, Alabama over the next seven years with a scheduled completion date of March 26, 2027, according to the release.