Raytheon awarded $255 million for DDG 1002

Jan 04, 2016, 09:00 ET from Raytheon Company

TEWKSBURY, Mass., Jan. 4, 2016 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $255,281,689 fixed-price-incentive firm target modification to a previously awarded contract to procure mission system equipment for the future USS Lyndon B. Johnson (DDG 1002). This contract modification includes options which, if exercised, would bring the cumulative value of this award to $349,243,022

Work will be performed in Portsmouth, Rhode Island (40 percent); Andover, Massachusetts (25 percent); Marlboro, Massachusetts (18 percent); Charlottesville, Virginia (5 percent); McKinney, Texas (5 percent); Moorestown, New Jersey (5 percent); and Ontario, Canada (2 percent), and is expected to be completed by October 2019.  Fiscal 2010, 2015, and 2016 shipbuilding and conversion (Navy) funding in the amount of $255,281,689 will be obligated at time of award and no funds expire at the end of the current fiscal year.  The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity.

This contract modification was awarded on December 31, 2015.

About Raytheon
Raytheon Company, with 2014 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, civil government and cybersecurity markets throughout the world. With a history of innovation spanning 93 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 cybersecurity and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.

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