Raytheon Scores $156M Missile Production Contract

Law360, New York (January 13, 2014, 3:28 PM EST) -- Defense giant Raytheon Co. has been awarded a $156 million contract to procure Standard Missile-3 Block IB guided missiles for the United States Missile Defense Agency, the company announced Monday.

The SM-3 Block IB missile, which is designed to destroy incoming short-, medium- and intermediate-range ballistic missiles by colliding with them in space — a concept similar to “hitting a bullet with a bullet” — will be deployed both at sea and on land, Raytheon said.

The undefinitized contract action will be funded by fiscal year...
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