TUCSON, Ariz. (AP) -- Raytheon Co. said on Thursday it was awarded a $106 million contract to make the Joint Standoff Weapon C-1 for the Navy.
Raytheon said the weapon is part of a family of low-cost air-to-ground weapons used on aircraft including the Navy's F/A-18. It is also planned to be used on the new Joint Strike Fighter, the company said. The C-1 variation makes it possible to hit moving targets at sea.
The contract includes production of more than 350 weapons, container cables and test units. It also includes $17.2 million to switch the factory from making the JSOW C to the JSOW C-1. Production will begin in October, and delivery to the U.S. Navy and some allies is expected to begin in March 2010.
Raytheon shares fell 26 cents to $36.07 in afternoon trading.
