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Tuesday, June 30, 2009

Five-year Raytheon defense deal nets nearly $6M

By Brendan Lynch

Raytheon Co.’s Integrated Defense Systems unit has landed $5.7 million from the U.S. Army for work on the Patriot missile, according to the U.S. Department of Defense.
 
Under the deal, Raytheon (NYSE: RTN) IDS will perform engineering services on the Waltham-based defense giant’s Patriot missile systems. The contract specifies 37,822 man-hours to be worked before the estimated completion date of Jan. 31, 2014. Work on the contract will be performed in Andover, Tewksbury and Huntsville, Ala.

Yesterday, Raytheon brought in two other deals worth about $46 million in total. IDS landed $9.9 million from the U.S. Navy to develop missile defense radar technology. Under the deal, Raytheon (NYSE: RTN) IDS will perform concept studies for the Air and Missile Defense Radar S-Band (AMDR-S) and Radar Suite Controller (RSC).

The company also brought in $36.1 million from the U.S. Army to provide Kuwait with Patriot Missile radar upgrades. Under the deal, a Foreign Military Sales contract for the State of Kuwait, Raytheon will upgrade the country’s Patriot missile radar systems to Configuration-3, providing depot test equipment, training and technical services.

And last week, Raytheon landed $6 million to develop technology to improve the thermal performance of advanced defense electronics systems. Under the deal from DARPA, the Defense Advanced Research Projects Agency, Raytheon will develop nanothermal interface materials intended to reduce thermal resistance between interface layers found in electronic assemblies.

Raytheon IDS is a subsidiary of Waltham-based Raytheon, which employees 72,000 workers and reported a 2008 net income of $1.7 billion on revenue of $23.2 billion.

 

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