Raytheon Co., the world’s largest
missile maker, received a $176 million contract from the U.S.
Navy to make 225 updated versions of the Tomahawk missiles used
in Iraq, as well as guidance test sets and repair parts.
The missiles are called Block IV, or Tactical Tomahawks.
Unlike the version widely used in the war with Iraq, they will be
able to fly to a general target area and hover while waiting to
receive additional instructions.
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Waltham, Mass.-based Raytheon, which has a Portsmouth facility, said work replenishing supplies of the older Tomahawk to the Navy was part of the reason for a 19 percent
increase in the company’s missile-systems business to $943
million in the fourth quarter. Navy ships fired 740 of the older
Tomahawks in the first 12 days of the war.
Raytheon will make its first
delivery of the new Tactical Tomahawk in May, under an earlier
contract, spokeswoman Sara Hammond said in an interview. The order is Raytheon’s third for the new missile following a $36
million award in 2002 and a $224.5 million award last year, she
said.
Work under the contract will be done in Tucson, Ariz., and
will be completed by April 2006. Shares of Raytheon have risen 15
percent in the past year.
Bloomberg News
