Government Review Reaffirms Raytheon's Navy Multiband Terminal Contract Win
MARLBOROUGH, Mass., Oct. 1, 2007 /PRNewswire/ -- The U.S. Navy has directed Raytheon Company (NYSE: RTN) to proceed with development of the Navy Multiband Terminal (NMT).
The direction to proceed with the NMT contract comes after the U.S. government reviewed a protest by the Harris Corporation and reaffirmed the original award decision that Raytheon offered the best value solution to the customer.
As the Navy originally announced on May 31, 2007, Raytheon was named the winner of the three-year NMT development competition and was awarded the NMT contract with a cumulative value of $960 million.
The NMT solution will provide the Navy with its next generation of satellite communications (SATCOM) systems. It replaces several existing SATCOM systems, adds significant new communications capability, and is expected to be installed in more than 300 ships, submarines and shore stations.
"We are very pleased with the outcome of the government's re-examination of the original award," said Jerry Powlen, vice president, Network Centric Systems' Integrated Communications Systems. "It reaffirms that Raytheon's innovative NMT solution brings the Navy the best value for its investment and that Raytheon is the best team to ensure success."
Development will proceed immediately at Raytheon's Marlborough, Mass., facility, with first production scheduled for Raytheon's Largo, Fla., site in 2008.
Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
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