TUCSON, Ariz., March 26, 2020 /PRNewswire/ -- Raytheon Company's
(NYSE: RTN) Missile Systems business has reached a $1 billion, five-year strategic agreement to
purchase propulsion systems from Aerojet Rocketdyne for Standard
Missile products. The deal represents a supply chain centerpiece of
multi-year Standard Missiles contracts that Raytheon recently
received.
"Moving to multi-year, rather than annual-year contracting
enables Raytheon and its supply chain to deliver even more value to
our Missile Defense Agency and U.S. Navy customers, and the
taxpayer," said Eugene Jaramillo,
Raytheon Missile Systems vice president of Global Supply Chain
Management. "These multi-year agreements also allow our suppliers
to transform the way they do business with Raytheon."
Aerojet Rocketdyne provides propulsion systems spanning
Raytheon's Standard Missile family. For the SM-2™ missile,
SM-3® interceptor and SM-6® missile,
Aerojet Rocketdyne supplies the majority of the solid rocket motors
for these systems. Also, for SM-3, the company produces the Divert
and Attitude Control System, a high-precision, quick-reaction
propulsion system that positions the interceptor to defeat incoming
ballistic missiles.
"Aerojet Rocketdyne has supported one or more variants of the
Standard Missile program for more than three decades; we are proud
of our contributions to these vital defense products," said
Eileen Drake, Aerojet Rocketdyne CEO
and president. "This significant agreement on multi-year
contracts strengthens our current relationship and positions
Aerojet Rocketdyne favorably for future business opportunities and
continued growth."
Work on the programs will be spread across Aerojet Rocketdyne
sites in Orange County, Virginia,
the Solid Rocket Motor Center of Excellence in Camden, Arkansas, and at its Advanced
Manufacturing Facility in Huntsville,
Alabama. Raytheon produces SM-2 in Tucson, and SM-3 and SM-6 in Huntsville.
About Raytheon
Raytheon Company, with 2019 sales of
$29 billion and 70,000 employees, is
a technology and innovation leader specializing in defense, civil
government and cybersecurity solutions. With a history of
innovation spanning 98 years, Raytheon provides state-of-the-art
electronics, mission systems integration, C5I® products
and services, sensing, effects, and mission support for customers
in more than 80 countries. Raytheon is headquartered in
Waltham, Massachusetts. Follow us
on Twitter.
Media Contacts
Raytheon
John Patterson
+1.520.440.2194
Aerojet Rocketdyne
Eileen
Lainez
+1.703-650-0291
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SOURCE Raytheon Company