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ITT wins $1 Billion FAA contract for air traffic control
Thu Aug 30, 2007 4:20PM EDT
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WASHINGTON, Aug 30 (Reuters) - The U.S. Federal Aviation Administration selected ITT Corp (ITT.N: Quote, Profile, Research) on Thursday to build the centerpiece of a new satellite-based air traffic control system, the agency said.

ITT beat competitors Lockheed Martin Corp (LMT.N: Quote, Profile, Research) and Raytheon (RTN.N: Quote, Profile, Research) for the $1 billion project using global positioning technology that is intended over many years to replace the FAA's aging network of ground-based radar.

((Editing by Gary Hill; Reuters Messaging: [e-mail] [phone])) Keywords: AIRTRAFFIC/US

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