Ratheon Wins $149 Million Missile Modification Contract

Raytheon has won a $149 million modification contract from the US department of defense for Standard Missile-2 and Standard Missile-6.

This contract modification will incorporate requirements for one base production year (fiscal 2015) and one option year (fiscal 2016), Pentagon announced Friday.

Both years include SM-6 Block I and Block IA all up rounds, instrumentation kits, SM-2 and SM-6 section level and component spares, containers, and design agent engineering services.

This contract modification includes options which, if exercised, would bring the cumulative value of this contract to $562 million

Fiscal 2015 weapons procurement (Navy); fiscal 2015 Missile Defense Agency; and fiscal 2015 operations and maintenance (Navy) fund of $233 million, will be obligated at time of award.

Contract funds in the amount of $2.8 million will expire at the end of the current fiscal year.