Raytheon Wins $42 Million Torpedo Contract
Defense contractor Raytheon Company continued its momentum recently when it was awarded a $42 million contract from the U.S. Navy to provide MK54 lightweight torpedo hardware.
According to a release from the company, the contract specifies that Raytheon Integrated Defense Systems (IDS) will manufacture 100 MK54 kits for U.S. military fleet and to support foreign military sales.
In addition, the contract award also includes additional domestic and international options which, if exercised, could bring the total value over $550 million for five years, the release noted.
"Together with the Navy customer, we will leverage our collective expertise to continue to advance the reliability and effectiveness of the MK54 torpedo," Kevin Peppe, IDS' vice president of Seapower Capability Systems, said in a statement. "Our dedication to quality and execution stems from our commitment to our customer - to deliver the most affordable and effective undersea weapons to naval fleets around the world."
The work, which is expected to be completed in Keyport, Washington, and Portsmouth, Rhode Island, could lead to the creation of new defense jobs. Such positions often require professionals who have undergone a lifestyle polygraph test and obtained security clearance.