U.S. Navy Awards $250 Million V-22 Contract to Raytheon

FARNBOROUGH, England, July 20, 2010 /PRNewswire/ -- The U.S. Navy has awarded Raytheon Company (NYSE: RTN) a five-year, $250 million indefinite delivery-indefinite quantity contract for support of the V-22 aircraft. Tasks under the contract include V-22 avionics systems software, situational awareness software and prototype hardware, and avionics acquisition support for the customer.

"Raytheon has supported the V-22 program for more than 27 years," said Wayne Iurillo, vice president of Customized Engineering and Depot Support for Raytheon Technical Services Company LLC. "Our mission avionics software capabilities have been a key aspect of the successful development and deployment of the aircraft, and we are proud of our role in providing improved mission capabilities for the warfighter."

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.

SOURCE Raytheon Company

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