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Raytheon Co. reports it has landed $54 million from the U.S. Navy to upgrade radar systems on fighter jets.
Under the contract, Raytheon (NYSE: RTN) will retrofit Super Hornet block II aircraft with APG-79 active electronically scanned array radars.
Work on the contract will be performed in Andover, as well as in Mississippi and California, and is expected to be completed by December 2010.
Raytheon said it has delivered 134 of the radar systems to the Navy for the Super Hornet and EA-18G Growler aircrafts. With this latest deal, Raytheon will have retrofitted 38 of the fighter jets, according to the company.
Last week, Raytheon granted $600,000 to 30 high school seniors entering the science, technology, engineering and mathematics (STEM) fields as part of its MathMovesU program. Seven of the 30 scholarship winners -- who will each receive $20,000 -- will attend MIT in the fall, and two will attend Yale University.
Earlier this month, Raytheon’s Integrated Defense Solutions division landed $115 million from the U.S. Army for Patriot missile systems. Raytheon will upgrade radar components on four Patriot missile systems.
Also this month, Raytheon landed $9 million from the U.S. Army for Patriot missile maintenance. Under the contract, Raytheon IDS will perform missile maintenance and facilities in the United States and at overseas locations.
Raytheon, with 72,000 employees, reported a 2008 net income of $1.7 billion on revenue of $23.2 billion.
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