TUCSON, Ariz., April 23, 2014 /PRNewswire/ -- An
international customer signed an agreement with the U.S. Government
for a foreign military sale (FMS) of tube-launched, optically
tracked, wireless-guided (TOW) missiles to be supplied by Raytheon
Company (NYSE: RTN) in a deal valued at approximately $750 million.
Raytheon plans to deliver nearly 14,000 TOW missiles to the
customer over a three-year period beginning in 2015. A resulting
order is expected to be executed by the U.S. government with
Raytheon in the coming weeks.
The order will allow Raytheon to further increase TOW's
capability while delivering affordable precision to a key U.S. ally
for the defense of its borders and sovereignty. This type of
multiyear FMS arrangement drives down acquisition costs for the
U.S. government and provides economies of scale.
About TOW
- The tube-launched, optically-tracked, wireless-guided (TOW)
weapon system, with the multi-mission TOW 2A, TOW 2B, and TOW
Bunker Buster missiles, is the premier long-range, precision
anti-armor, anti-fortification and anti-amphibious landing weapon
system used throughout the world today.
- The TOW weapon system is expected to be in service with the
U.S. military beyond 2025.
- TOW is in service in more than 40 international armed forces
and integrated on more than 15,000 ground, vehicle and helicopter
platforms worldwide.
- Raytheon has delivered more than 675,000 TOW missiles to U.S.
and allied warfighters.
About Raytheon
Raytheon Company, with 2013 sales of
$24
billion and 63,000 employees worldwide, is a
technology and innovation leader specializing in defense, security
and civil markets throughout the world. With a history of
innovation spanning 92 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 cyber security and a broad range of mission support
services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit
us at www.raytheon.com and follow us on Twitter
@Raytheon.
Media Contact
Nicole
Stewart
+1.520.437.1975
rmspr@raytheon.com
SOURCE Raytheon Company