Raytheon Lands $350M DOD Contract For More SM-3 Missiles

Law360, New York (March 7, 2014, 2:12 PM EST) -- Defense contractor Raytheon Co. said Thursday that it has been awarded a $350 million contract to increase production of missiles for the U.S. Department of Defense's Missile Defense Agency, the second major missile contract Raytheon snagged in a week.

Raytheon said in a statement that the Missile Defense Agency raised its order for Standard Missile-3 Block IB missiles from eight units to 44 units. The SM-3 is designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by colliding with them in space, a concept...
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