US Army has awarded a TOW missile subsystems support contract to Raytheon (NYSE:RTN).
Raytheon Gets Missile Contract
Raytheon (NYSE:RTN) has received a five year, $77.9 million contract from the US Army to provide logistic and engineering support for Army’s TOW (tube-launched, optically tracked, wire-guided) missile subsystems.
As part of the contract, the company will also provide provisioning and repair support, field engineering support, configuration management and technical engineering support to Close Combat Systems.
John Harris of Raytheon (NYSE:RTN) said, “The customer’s selection of Technical Services as a prime contractor affirms our strong capabilities in providing engineering services and innovative, cost-effective customer solutions. Together, RTSC and Raytheon Missile Systems’ engineering and logistics solutions will support systems from Huntsville to Afghanistan and offer assurance to our warfighters that they have systems that perform anytime and everywhere”.
Raytheon (NYSE:RTN) shares are currently standing at 51.92.