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Navy awards $13.4M contract to Raytheon


Published : Sat, 03 Feb 2007 00:27
By : Agencies
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WASHINGTON (AFX) - The U.S. Navy on Friday awarded a nearly $13.4 million contract modification to a unit of Raytheon Co. to upgrade missile guidance control systems for the government of Egypt.

Work on the pact, awarded to Raytheon Missile Systems in Tucson, Ariz., is expected to be completed in September 2009.

Shares of Raytheon added $2.29, or 4.4 percent, to close at a new 52-week high of $54.85 on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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