Raytheon's $2B Contract To Produce Missiles Gets DOD's OK

By Jimmy Hoover (July 20, 2016, 5:07 PM EDT) -- The Pentagon can move forward with its acquisition of over $2 billion in missile defense systems produced by Raytheon after a series of successful flight tests eased concerns raised by a missile intercept failure last year, a U.S. Department of Defense spokesman confirmed Wednesday.

The Pentagon had delayed awarding a full-rate production contract of the Standard Missile-3 Block IB systems after a SM-3 defense missile failed to destroy a target during a test in October.

Now with two successful flight tests on May 25 and May 26, the DOD will "seek approval from the assistant secretary for Acquisition, Technology and Logistics...

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