Raytheon And Lockheed Martin Javelin JV Gets $176 Mln Contract

(RTTNews) - The Raytheon Company (RTN), Monday said the Javelin Joint Venture with Lockheed Martin (LMT), received a $176 million contract for the production and delivery of 842 Block I Javelin missile rounds and 120 command launch units or CLUs. The contract was awarded to the Joint Venture in September, Raytheon said.

Through the U.S. government, the missiles will be provided to the U.S. Army, U.S. Marine Corps and three international customers; Oman, Jordan and Indonesia. The CLUs will be delivered to the U.S. Army beginning October 2014, and will be funded with the Special Defense Acquisition Funds.

Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications. Using the Javelin missile system, a single infantryman can engage and defeat targets in close combat and at ranges up to two-and-a-half kilometers.

"This contract is important to the Javelin program because the CLU retrofit business keeps our production line warm through mid-2015." said Jeff Miller, Raytheon Javelin program director and Javelin Joint Venture president.