Raytheon awarded $35 million Stinger contract for Republic of Korea delivery

TUCSON, Ariz., March 31, 2015 /PRNewswire/ -- Raytheon Company (NYSE: RTN) signed a $35 million contract to deliver Stinger® missiles and air-to-air launchers to the Republic of Korea Army in support of their recent procurement of AH-64 Apache helicopters.

Under the previously announced foreign military sale, Raytheon will begin deliveries of the Stinger weapon systems in 2017.

"Stinger provides vital self-protection capabilities as well as defensive counter-air protection of aviation and ground forces," said Michelle Lohmeier, vice president of Raytheon's Land Warfare Systems product line. "Most importantly, Stinger operates day and night, in all environmental conditions and allows for the engagement of multiple targets within seconds."

This agreement highlights a renewed global interest in air-to-air Stinger as a key component of attack and light attack helicopter mission configurations. Stinger greatly enhances the capabilities of the aircraft to successfully perform today's missions while countering existing threats. 

"With the emergence of unmanned aerial vehicles in the battlespace and the key role of helicopters, the evolved technology of air-to-air Stinger is easily adapted to defeat evolving threats," said Jack Elliot, Raytheon's Stinger program director. "Stinger is an immediate- response weapon of choice against a wide range of air threats for protection of both fixed sites and maneuver forces."

About Stinger
Stinger-RMP (reprogrammable microprocessor) Blk 1, the current production version of Stinger, has maintained a greater than 90 percent success rate in reliability and training tests against advanced threat targets. The combination of supersonic speed, agility, highly accurate guidance and control system, and lethal warhead gives Stinger the operational edge against all classes of helicopters, UAVs, cruise missiles, and fixed-wing aircraft. In service in 19 countries, Stinger not only has a surface-to-air capability from land and sea, but also an air-to-air capability that can be integrated into most fixed- or rotary-wing platforms.

About Raytheon
Raytheon Company, with 2014 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 93 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.

Media Contact 
John Eagles 
+1.502.364.6768

[e-mail]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/raytheon-awarded-35-million-stinger-contract-for-republic-of-korea-delivery-300055250.html

SOURCE Raytheon Company

Copyright 2015 PR Newswire