Raytheon, US Navy Sign $61 Million Phalanx Close-In Weapon System Contract

LOUISVILLE, Ky., May 15, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $61.1 million U.S. Navy contract to purchase radar upgrade kits and other spare parts for the Phalanx Close-In Weapon Systems. Sixty- eight radar kits will be procured for use with the sea-based Phalanx and the Centurion Land-Based Phalanx Weapon System.

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. Twenty-two land-based systems have been delivered to the U.S. Army.

"Along with defending against rockets, artillery and mortars in the land-based configuration, the Phalanx radars will support engagements of other at-sea systems such as the Rolling Airframe Missile against supersonic anti-ship missiles and other evolving threats," said Kevin Peppe, Raytheon's close-in weapon systems director.

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.

SOURCE Raytheon Company