Raytheon Wins Several Paveway II Contracts for Foreign Military Sales

TUCSON, Ariz., Feb. 2 /PRNewswire/ -- Raytheon Company (NYSE: RTN - News) has been awarded five separate competitive contracts totaling $7.9 million for Paveway II Laser Guided Bomb (LGB) components. The contracts, awarded by the U.S. Air Force under the Foreign Military Sales program, are for the manufacture and delivery of Paveway II LGB kit components for several international customers including Egypt, Oman, South Korea, Taiwan and the United Arab Emirates. The Paveway II LGB system features an onboard guidance system that detects and guides the unit to a target illuminated by an external laser source. Since its inception in 1968, the Paveway series of laser guided bombs has revolutionized tactical air-to-ground warfare. These semi-active laser guided munitions not only drastically reduce the numbers required to destroy a target, but also feature accuracy, reliability, and cost-effectiveness previously unattainable with conventional weapons. "We are extremely proud of our Paveway Team here at Raytheon and at our suppliers across the country," said Donna Ellington, director of Raytheon's Paveway programs. "Our combined production team strives for continuous improvements in manufacturing efficiencies as proven by these contracts and by our NCAT Award." Raytheon's Paveway factory was recently awarded the 2003 Defense Manufacturing Excellence Award by the National Center for Advanced Technologies (NCAT). The Paveway II LGB is the lowest cost air-to-ground guided weapon and continues to be the world's premiere weapon system, deployed by 33 nations worldwide. Paveway Laser Guided Bombs have been the "weapon of choice" in every conflict from Operation Desert Storm to Operation Iraqi Freedom. More Paveways have been used than any other guided weapon. "We're extremely proud that so many countries have chosen Raytheon to fulfill their needs for accurate, reliable and cost-effective Paveway IIs," said Harry Schulte, vice president of Raytheon Missile Systems Strike Weapons product line. "We will continue to do everything in our power to make sure that trust in not misplaced." Primary work on these contracts will be performed at Raytheon facilities in Tucson, Ariz.; Sherman, Texas; and Andover, Mass. Raytheon Company, with 2003 sales of $18.1 billion, is an industry leader in defense, government and commercial electronics, space, information technology, technical services, missile defense, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs more than 78,000 people worldwide.