WASHINGTON (dpa-AFX) - RTX Corp. (RTX), an aerospace and defense company, Friday announced that its subsidiary Raytheon secured a $1.1 billion contract from the U.S. Navy to produce AIM-9X Block II missiles.
As per the contract, Raytheon will produce AIM-9X missiles along with associated hardware and software for U.S. and Foreign Military Sales customers.
'AIM-9X is the most advanced infrared tracking, short-range air-to-air and surface-to-air missile, and it is combat-proven in multiple theaters around the world. The system is configured for easy installation on a wide range of modern aircraft and provides layered defense options with ground launched capabilities, including the National Advanced Surface to Air Missile System (NASAMS).', RTX said in a statement.
Majority of the work for this contract will take place in Tucson, Arizona and Raytheon is significantly expanding its engineering workforce in Tucson to support critical military programs across domains.
In pre-market activity, RTX shares were trading at $186, down 0.32% on the New York Stock Exchange.
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