Raytheon Awarded $1.6 BILLION Contract Last Night 10/10/2013 (what sequestration, everyone?)
Raytheon beat out Lockheed Martin Corp (LMT.N) and Northrop Grumman Corp (NOC.N) to build a new radar for the Aegis combat system.
Under the contract, Raytheon will build and test the new air and missile defense radar (AMDR) that will integrate with the existing AN/SPQ-9B X-band radar.
The Navy awarded Raytheon an initial design contract worth $386 million, but said the deal included options for procurement of up to nine radars, which could bring the value of the deal up to $1.6 billion.
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In July, Raytheon also beat its rivals to win a key Navy contract to develop a next-generation electronic jammer. That contract has been challenged by BAE Systems Plc (BAES.L), which filed a protest with the General Accountability Office.
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http://www.reuters.com/article/2013/10/10/us-raytheon-navy-idUSBRE99918A20131010
Apparently, sequestration isn't impacting the good times at Raytheon.
