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Raytheon Lands $55 Million Navy Contract

Mon, 08/30/2010 - 5:02am

WASHINGTON (AP) — Raytheon Co. has landed a $55.4 million Navy contract related to the production of a test site for the Aegis missile-defense system, the Department of Defense said Friday.

The contract modifies and earlier contract to exercise an option for the production of an Aegis ashore test site transmitter and fire control system.

Most of the work on the project will be done in Andover, Mass., and is expected to be completed by December 2015.

Raytheon shares slipped 3 cents to $44.20 in aftermarket trading after adding 98 cents to $44.23 during the regular session.

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