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RAYTHEON (RTN)
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Raytheon : overhauling Royal Canadian Navy Phalanx Close-In Weapon System

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02/20/2018 | 07:52pm CET

$330 (CAD) million contract will help protect ships and sailors for years to come

CALGARY, Alberta, Feb. 20, 2018 /PRNewswire/ -- Raytheon Canada Limited is overhauling and providing in-service support for the Phalanx Close-In Weapon Systems operated by the Royal Canadian Navy.   

Raytheon logo (PRNewsfoto/Raytheon)

Raytheon (NYSE: RTN) produces Phalanx, a rapid-fire, computer-controlled radar and 20mm gun system that automatically acquires, tracks and destroys enemy threats that have penetrated other ship defense systems. More than 890 systems have been built for navies around the world.

"The Phalanx CIWS is an integral element of the Canadian Navy's defence," said Terry Manion, RCL vice-president and general manager. "This contract supports modernization work that will keep these systems ready and relevant well into the future."

Under the $330 (CAD) million contract by Public Services and Procurement Canada, RCL, working with Raytheon Intelligence, Information and Services, will provide maintenance, fleet technical support, repair and overhaul services on the Phalanx mounts which will ensure the systems are ready to address current and emerging threats.

"Raytheon is a world leader in platform sustainment and modernization," said Todd Probert, RCL board member and vice president of Mission Support and Modernization at Raytheon Intelligence, Information and Services. "We will continue to provide the technologies, systems and expertise the Royal Canadian Navy needs to stay ahead of rapidly evolving threats."

Work under the contract, which was signed November 2017, will be conducted in Raytheon Canada Limited's Calgary facilities. RCL has supported a broad range of Canadian defense and technology programs for nearly 25 years.

About Raytheon Canada Limited

Raytheon Canada Limited (RCL) is a subsidiary of Raytheon Company. RCL is a leader in high technology solutions, engineering services, surveillance and navigation systems including air traffic control radars, highway traffic management systems, maritime surveillance radars and weapon systems, and precision optics.

About Raytheon

Raytheon Company, with 2017 sales of $25 billion and 64,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 96 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Mass. Follow us on Twitter.

Media Contact
Raytheon
Chris Johnson
571-250-3418
[email protected]

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/raytheon-overhauling-royal-canadian-navy-phalanx-close-in-weapon-system-300601364.html

SOURCE Raytheon


© PRNewswire 2018
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Financials ($)
Sales 2018 26 713 M
EBIT 2018 4 017 M
Net income 2018 2 681 M
Debt 2018 1 625 M
Yield 2018 1,53%
P/E ratio 2018 23,76
P/E ratio 2019 20,66
EV / Sales 2018 2,41x
EV / Sales 2019 2,28x
Capitalization 62 816 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 232 $
Spread / Average Target 6,7%
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Managers
NameTitle
Thomas A. Kennedy Chairman & Chief Executive Officer
Anthony F. O'Brien Chief Financial Officer & Vice President
Mark E. Russell VP-Engineering, Technology & Mission Assurance
Kevin Neifert Chief Information Officer
William R. Spivey Independent Director
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