U.S. Air Force Awards Raytheon $170 Million Contract for Infrared-Guided Maverick Missiles

TUCSON, Ariz., Feb. 3, 2010 /PRNewswire/ -- The U.S. Air Force awarded Raytheon Company (NYSE: RTN) a $170 million Foreign Military Sales contract to produce AGM-65D and AGM-65G2 infrared-guided Maverick air-to-surface missiles for the United Arab Emirates.

The AGM-65 Maverick family of precision-attack missiles is used by the air, naval and marine forces of 33 countries. More than 69,000 missiles have been produced to date, and more than 6,000 have been used in combat with a 93 percent success rate.

"Raytheon's Maverick is an affordable, combat-proven missile integrated on more than 25 aircraft with a history of on-cost and on-schedule delivery," said Harry Schulte, vice president of Raytheon Missile System's Air Warfare Systems' product line. "While the Maverick family is a best-value solution for the warfighter who needs a direct-attack weapon, the infrared-guided Maverick is ideally suited to counter high-speed maneuvering sea targets such as swarming boats."

Raytheon will build and provide life-cycle support for more than 500 new missiles. The company began production of the missile's IR guidance and control sections in November 2008.

Raytheon Company, with 2009 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 88 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 75,000 people worldwide.

Note to Editors:

Raytheon's family of Maverick missiles provides more than 250 jobs in Tucson, Ariz.; Goleta, Calif.; and Farmington, N.M.

Scores of Raytheon suppliers associated with the Maverick program provide employment to hundreds of people across the U.S.

Major suppliers include Alliant Tech Systems, Rocket Center, W. Va.; BAE Systems, Lexington, Mass.; Eagle Picher, Joplin, Mo.; Ensign Bickford, Simsbury, Conn.; Kaman Aerospace, Middletown, Conn.; MOOG, Inc., Salt Lake City, Utah; MOOG, Inc., East Aurora, N.Y.; Primus Technologies, Williamsport, Pa.; Reynolds Systems, Middletown, Calif.; Woven Electronics, Greenville, S.C.

SOURCE Raytheon Company

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