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4-Traders Homepage  >  Equities  >  Nyse  >  Raytheon Company    RTN

Delayed Quote. Delayed  - 08/31 05:54:43 pm
139.92 USD   -0.31%
05:15p Javelin Joint Venture signs Letter of Intent with India's Tata P..
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Javelin Joint Venture signs Letter of Intent with India's Tata Power

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08/31/2016 | 05:15pm CEST

TUCSON, Ariz.-- The Javelin(TM) Joint Venture team, a partnership between Raytheon Company (NYSE: RTN) and Lockheed Martin (NYSE: LMT), signed a letter of intent (LOI) with Tata Power Company Limited operating through its Strategic Engineering Division (SED), to explore co-development and production of the Javelin anti-armor missile system.

"This agreement brings together three world leaders in aerospace and defense technology to extend Javelin to new customers, new applications and new platforms," said John Halvey, Javelin Joint Venture president at Raytheon Missile Systems. "With this deal, we are also reinforcing our continued support of the 'Make in India' initiative."

As part of the LOI, the Javelin Joint Venture (JJV) and Tata Power SED will create a strategy to co-develop and produce the Javelin missile system and integrate platform mounts to meet Indian requirements. This includes ground combat vehicle, dismounted infantry and rotorcraft applications.

"The combat-proven Javelin continues to fulfill a critical precision-strike role with our domestic and international partners," said Rich Benton, Javelin Joint Venture vice president and Javelin program director at Lockheed Martin Missiles and Fire Control. "We look forward to working with Tata Power SED to maximize the versatility and lethality of Javelin on these new platforms."

In addition to meeting the Government of India's "Make in India" objectives, the LOI establishes a framework for future technological cooperation between the Javelin Joint Venture and Tata Power SED.

"Since the early 1980s,Tata Power SED has established its R&D and 'Make in India' credentials, as part of Dr. Kalam's Integrated Guided Missile Development Program," said Rahul Chaudhry, Chief Executive Officer at Tata Power SED. "Now, our partnership with the JJV will bring the world's best technology to our soldiers enabling battlefield supremacy. Indian industry will benefit immensely from the depth and range of this planned technology transfer and co-development."

About Javelin

Javelin is a compact, lightweight missile designed for one-soldier operations in all environments. It is made by the Javelin Joint Venture, a partnership between Raytheon Company and Lockheed Martin. Javelin has been adopted by international armed forces around the world. It is currently fielded with the U.S. Army and U.S. Marine Corps, and has also been approved for 15 foreign military sales customers.

About Tata Power SED

The Tata Power Company Limited operating through it' Strategic Engineering Division (Tata Power SED) has been a leading private-sector player in the indigenous Design, Development, Production, Integration, Supply and Life-cycle Support of mission critical Defence Systems of Strategic importance, for close to four decades. During this period, the Division has partnered the Ministry of Defence (MoD), the Armed Forces, DPSUs and DRDO in the development & supply of state-of- the-art Systems and emerged as a Prime Contractor to MoD for Indigenous Defence Production when it secured Orders for Pinaka Multi Barrel Rocket Launcher, Akash Army Launcher and Integrated EW System for the Indian Army and for the Akash Air Force Launcher, COTS-based Automatic Data Handling System for Air Defence and Modernisation of Airfield Infrastructure (MAFI) for the Indian Air Force, Tactical Communication Systems and Battlefield Management Systems. For more information, visit www.TataPowerSED.in.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 98,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

About Raytheon

Raytheon Company, with 2015 sales of $23 billion and 61,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter @Raytheon.


(c) 2016 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2016 24 431 M
EBIT 2016 3 216 M
Net income 2016 2 196 M
Debt 2016 2 216 M
Yield 2016 2,05%
P/E ratio 2016 18,95
P/E ratio 2017 18,30
EV / Sales 2016 1,79x
EV / Sales 2017 1,71x
Capitalization 41 417 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 153 $
Spread / Average Target 9,3%
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Thomas A. Kennedy Chairman & Chief Executive Officer
Anthony F. O'Brien Chief Financial Officer & Vice President
Kevin Neifert Chief Information Officer
Michael C. Ruettgers Independent Director
William R. Spivey Independent Director
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