Raytheon Awarded $161.8 Million for Production of TOW ITAS Precision Guidance Systems
MCKINNEY, Texas, Dec. 4, 2006 /PRNewswire/ -- Raytheon Company (NYSE: RTN) will extend production and delivery of Improved Target Acquisition Systems (ITAS) under a $161.8 million contract from the U.S. Army Aviation and Missile Command, Huntsville, Ala. The order marks the second major ITAS contract award in 2006 and continues U.S. Marine Corps and U.S. Army procurement of the systems.
ITAS is the advanced Electro-Optic Target Acquisition Fire Control System. It guides the TOW (Tube-Launched, Optically Tracked, Wire-Guided) weapon systems to their targets with surgical precision. The targeting system significantly increases TOW's effective range, improves the weapon's ability to hit a target with minimal collateral damage and allows a soldier to engage and destroy targets from safe distances. ITAS's 2nd generation FLIR (forward- looking infrared) sensor provides long-range reconnaissance and surveillance capability 24/7, in all weather and battlefield conditions.
ITAS is fielded in Operation Iraqi Freedom and Operation Enduring Freedom where it has demonstrated its value in all phases of the conflict and subsequent peace-keeping efforts.
Raytheon Network Centric Systems Vice President of Combat Systems Glynn Raymer said, "This additional order further emphasizes the confidence our soldiers and Marines have using ITAS in new, innovative ways."
Raytheon Company, with 2005 sales of $21.9 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs 80,000 people worldwide.
Note to Editors:
This contract was initially announced by the Department of Defense on Nov. 27, 2006.
ITAS is designed and produced by Raytheon Network Centric Systems in McKinney and Dallas, Texas. ITAS components are also produced in El Segundo and Santa Barbara, Calif.; Largo, Fla; and Midland, Ontario, Canada.
This fiscal year 2007 production award includes ITAS systems for the Marines and the Army. This order is an FY07 option exercised under a contract awarded Sept. 11, 2006. The contract provides options for the Army to purchase additional ITAS systems during the next four years and is valued at more than $500 million.
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