Free Republic

TUCSON, Ariz., May 6, 2005 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $162.7 million contract for production of the Evolved SeaSparrow Missile (ESSM) for the U.S. Navy and nine other allied nations. An international cooperative upgrade of the RIM-7 NATO SeaSparrow Missile, ESSM provides self-defense battlespace and firepower against high-speed, highly maneuverable anti-ship missiles. The contract calls for production of 251 missiles, associated spares and shipping containers for Australia, Canada, Germany, Norway and the U.S. by October 2007. Forty-five percent of the work will be done by Raytheon and 55 percent by Raytheon's international partners. ESSM is...