Raytheon Wins $123M S. Korean Maritime Defense Contract

Law360, Washington (February 24, 2014, 6:14 PM EST) -- Raytheon Co. on Monday said it has signed a $123 million contract to deliver nine computer-controlled radar and gun maritime defense systems for the South Korean Navy, the largest-ever purchase of the technology, known as Phalanx.

Raytheon will deliver nine so-called Phalanx Block 1B Close-In Weapon Systems to the Korean navy in a direct commercial sale, the company said in a statement. The technology will be installed on Navy combat support ships.

Deliveries are set to start in 2016 and be completed in 2022, according to...
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