US Air Force Awards Raytheon $31.6 Million Contract for Paveway II Laser Guided Bomb

Raytheon Company was awarded a $31.6 million U.S. Air Force competitive contract for Paveway II laser guided bomb components for fiscal year 2008. Raytheon will provide the Air Force with LGB computer control groups and air foil groups that transform "dumb" bombs into precision guided munitions. Raytheon received the maximum award possible for the computer control group portion of the contract. "Raytheon, which is the sole provider of the Paveway family of weapons, has proudly earned the majority share of Paveway II competitive awards for three consecutive years," said Ricky Freibert, Raytheon's Paveway program director. "This important win for Raytheon further demonstrates the company's unwavering commitment to meet or exceed the warfighter's need for cost-effective solutions". Contract work will occur at Raytheon facilities in Dallas, Tucson, Ariz., and the Navajo Agricultural Product Industry Industrial Park near Farmington, N.M. Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.