TUCSON, Ariz., June 7, 2016 /PRNewswire/ -- Raytheon Company
(NYSE: RTN) and Aerojet Rocketdyne, a subsidiary of Aerojet
Rocketdyne Holdings, Inc. (NYSE: AJRD) have entered into a new
Strategic Sourcing Agreement. Under the SSA, Aerojet Rocketdyne
will act as a principal and long-term supplier of its legacy
portfolio of propulsion systems and energetics products for key
weapons programs.
"This landmark agreement is an important step forward in
collaboration between industry partners and the U.S. Government to
achieve the objectives of Better Buying Power 3.0," said Raytheon
Missile Systems President Dr. Taylor W.
Lawrence. "To realize the benefits of this agreement,
industry and the U.S. Government must alter their historic way of
doing business – that will result in significant taxpayer
savings."
As part of the agreement, the two companies will jointly pursue
affordability initiatives through 2019.
"We are Raytheon's partner on some of the most important
propulsion systems for our nation's warfighters and national
defense programs," said Aerojet Rocketdyne CEO and President
Eileen Drake. "This agreement
expands our long-term relationship with Raytheon and is a direct
result of our commitment to deliver quality products on schedule,
while remaining firmly focused on affordability."
In 2015, Raytheon presented Aerojet Rocketdyne with an Award for
Excellence in Affordability during a supplier conference in
Boston, Massachusetts.
About Aerojet Rocketdyne
Aerojet Rocketdyne is an
innovative company delivering solutions that create value for its
customers in the aerospace and defense markets. The company is a
world-recognized aerospace and defense leader that provides
propulsion and energetics to the space, missile defense and
strategic systems, tactical systems and armaments areas, in support
of domestic and international markets. Additional information about
Aerojet Rocketdyne can be obtained by visiting our websites at
www.Rocket.com and www.AerojetRocketdyne.com.
About Raytheon
Raytheon Company, with 2015 sales of
$23 billion and 61,000 employees, is
a technology and innovation leader specializing in defense, civil
government and cybersecurity solutions. With a history of
innovation spanning 94 years, Raytheon provides state-of-the-art
electronics, mission systems
integration, C5I™ products and services,
sensing, effects, and mission support for customers in more than 80
countries. Raytheon is headquartered in Waltham, Mass. Visit us at www.raytheon.com
and follow us on Twitter @Raytheon.
Media Contact
John B. Patterson
+1.520.794.4559
rmspr@raytheon.com
Aerojet Rocketdyne
Contact:
Glenn Mahone
202.302.9941
Glenn.Mahone@Rocket.com
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SOURCE Raytheon Company