Raytheon Wins $8.2 Million LAV-25 Improved Thermal Sight System Contract
McKINNEY, Texas, Sep 19, 2002 /PRNewswire via COMTEX/ -- Raytheon Company (NYSE: RTN) has won an $8,179,374 cost-plus-incentive-fee and cost-plus-fixed-fee contract for development of the Improved Thermal Sight System (ITSS) for the United States Marine Corps' Light Armored Vehicle, the LAV-25. The contract includes production, installation, and contractor logistics support options. Potential contract value with options exercised is $105 million. Work on the program will be performed by Raytheon's Network Centric Systems (NCS) business in McKinney, Texas, El Segundo, Calif., and Midland Ontario, Canada.
In the production phase of the program, Raytheon will upgrade more than 400 LAV-25s with an improved forward-looking infrared (FLIR) sensor and an eyesafe laser range finder. The system also includes an embedded fire control computer, far-target location capability and moving target indication. "This is a significant award for Raytheon and key to our continued leadership in high-performance ground combat systems," said Colin Schottlaender, president of NCS. "ITSS is an ideal example of our continuing commitment to the U.S. Marine Corps as a key customer. It shows our ability to make our highest performance systems affordable for a wide range of military vehicles."
The award of the ITSS program follows the Marine Corps' initial fielding of Raytheon's first generation thermal sight, HIRE I. "The USMC's selection of HIRE III for ITSS extends the 15 year legacy of HIRE product line, providing for additional upgrade programs for more than 1,000 HIRE I and HIRE II systems currently fielded worldwide," added Schottlaender. With headquarters in Lexington, Mass., Raytheon Company is a global technology leader in defense, government and commercial electronics, and business and special mission aircraft. |
