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Raytheon wins $197m Navy contract

Associated Press / November 13, 2009

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TEWKSBURY - Raytheon Co. received a $197 million Navy contract for engineering and support for the LPD-17 class of amphibious warfare ships, the company said yesterday.

The defense contractor is the ship’s electronics systems integrator and primary contractor for engineering support. The contract includes five one-year options and extends Raytheon’s role as the ship’s lead provider of engineering support.

Work will be performed at the Expeditionary Warfare Center, San Diego; at the Seapower Capability Center, Portsmouth, R.I.; and by Raytheon Technical Services Co. in New Orleans and San Diego.

Also yesterday, Raytheon Co., sold $500 million of 4.4 percent, 10-year senior notes, according to Bloomberg News. The bonds priced to yield 4.431 percent, or 95 basis points more than similar-maturity Treasuries, Bloomberg data show.

Shares of Raytheon fell 29 cents to $48.56.