Raytheon Receives New $350 Million Contract
Tucson's largest private employer is receiving a new $350 million contract from the federal government.
Raytheon Missile Systems will be providing a new version of its SM-3 missile to the Navy over the next two and a half years. The weapon is used to intercept incoming short-to-intermediate-range missiles. Raytheon's John Patterson said the announcement is good news for the Tucson facility.
"We manufacture key components of the SM-3 right here in Tucson. This contract helps us maintain our operations and expand if business conditions warrant that," said Patterson.
Patterson said it is unknown yet if the contract will affect staffing levels at the Tucson plant.
The order will push the number of SM-3 missiles that Raytheon is producing for the US Defense Department to 44. The Pentagon's order for the previous version of the SM-3 was eight.