Raytheon wins $224.5 million naval contract

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Raytheon wins $224.5 million naval contract

Raytheon has been selected by the US Navy to produce 167 Tactical Tomahawk all-up round missiles.

The contract, worth $224.5 million, follows a successful contractor flight test program and US Navy operational assessment, according to Raytheon. Scheduled for fleet introduction in 2004, the Tactical Tomahawk will cost less than half of a newly built Block III Tomahawk and will have better ability to respond to changing battlefield condition. The majority of the missile production will be done in Tucson and is scheduled to be complete by August 2005.

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