Raytheon Gets $163 Mln AMRAAM Contract

(RTTNews) - Raytheon Co. (RTN) said Thursday that it has been awarded an about $163.2 million fixed-price/fixed-price-incentive/cost-plus-incentive contract for Advanced Medium Range Air-to-Air Missiles Program Support and Sustainment.

The contract provides sustaining engineering, program management, contractor logistics support and accomplishes the diminishing manufacturing sources and material shortage tasks of extending the life of the AMRAAM Central Processing Unit, improving the AMRAAM guidance section within the current performance envelope and developing applicable test equipment.

The contract includes both U.S. and foreign military sales repair and service requirements.

Work will be performed at Tucson and is expected to be completed by January 31, 2017.