Raytheon Gets $77 Million U.S. Air Force Contract

TUCSON, Ariz. (AP) -- Raytheon Co. said Thursday it received a $77.4 million U.S. Air Force contract to produce AGM-65D and AGM-65G2 infrared-guided Maverick air-to-surface missiles for Korea and Taiwan.

Raytheon said it will build and service more than 250 of the missiles. It began production of the missiles' infrared guidance and control sections in November 2008.

The AGM-65 Maverick family of missiles is used by the air, naval and marine forces of 33 countries, with more than 69,000 of the weapons produced to date.

Shares of Raytheon fell 52 cents to $45.92 in morning trading.

More in Supply Chain