Raytheon unit wins $57.4M contract from Air Force

AP News
Posted: Dec 22, 2009 7:24 PM

Raytheon Missile Systems Co. won a $57.4 million contract for a laser-guided bomb system from the U.S. Air Force, the Defense Department said Tuesday.

The contract is for the 750 Paveway III GBU-24A/B laser-guided bomb conversation kit, which will be used with a MK-84 warhead. The equipment is for Hill Air Force Base in Utah.

The Defense Department said the entire value of the contract has been committed.

Raytheon Missile Systems Co. is based in Tucson, Ariz. It is a subsidiary of Raytheon Co., which is based in Waltham, Mass.

Raytheon's shares fell 41 cents to $52.55 on Tuesday.