Raytheon Awarded $73 Million U.S. Army Contract for Excalibur Ia-2 Rounds
TUCSON, Ariz., Oct. 2, 2009 /PRNewswire/ -- Raytheon Company (NYSE: RTN) received a $73.3 million U.S. Army contract for the production of Excalibur Ia-2 155 mm precision-guided projectile rounds.
Excalibur Ia-2 is the next generation of precision-guided projectiles for U.S. Army and Marine Corps artillery. Using GPS precision guidance technology, Excalibur rounds provide warfighters with an accurate first-round, fire-for-effect capability in urban settings.
"Instead of focusing on CEP (circular error probable) that allows for target misses up to 60 meters (196 feet), we're redefining what precision means to the warfighter today," said Steve Bennett, Raytheon's Excalibur program director. "Precision means consistently impacting the target within 10 meters (32 feet). Excalibur provides the warfighter with precision that is essential to the protection of civilians and combat forces."
Raytheon recently demonstrated the success of the Excalibur Ia-1's new inertial measurement unit by firing nine shots with a 100 percent success rate. Recent Excalibur Ia-2 testing demonstrated precision well within 10 meters (32 feet) of the target.
"Excalibur rounds are important to the success of our warfighters in Afghanistan," said Lt. Col. Mike Milner, U.S. Army Excalibur product manager. "They deserve the kind of precision capability Excalibur can deliver."
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 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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