RTX Corporation (RTX)

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Raytheon gets Air Force deal to upgrade missiles
Raytheon gets Air Force deal to upgrade up to 450 air-to-ground Maverick missiles
Thursday April 2, 2009, 12:23 pm EDT
Buzz up! Print Related:Raytheon Co.
TUCSON, Ariz. (AP) -- Defense contractor Raytheon Co. got a contract from the Air Force to upgrade guidance and control parts of the service's air-to-ground Maverick missiles, the company said Thursday.

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RTN 40.39 +0.96


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The contract begins engineering efforts to restart the laser-guided Maverick production line and will incorporate new upgrades. Raytheon will upgrade up to 450 missiles for the Air Force and Navy.

The first upgraded guidance parts will be delivered to the Air Force within the next two years.

Shares of Waltham, Mass.-based Raytheon added 97 cents, or 2.5 percent, to $40.40 in afternoon trading.