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Raytheon gets $17M Army deal


Published : Wed, 14 Nov 2007 20:15
By : Agencies
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TUSCON, Ariz. (AP) - Raytheon Co. on Wednesday received a $17 million deal from the U.S. Army to build 462 precision assault missile systems for the Canadian Army.

The contract is the first foreign sale of Raytheon's TOW (Tube-Launched, Optically Tracked, Wire-Guided) Bunker Buster missiles. The system uses a fragmenting, high-explosive warhead designed to breach or destroy a multitude of targets, especially in urban environments.

Shares of Raytheon added 69 cents to $62.45 in afternoon trading.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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