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LaBarge Wins Additional $13.9 m Contract From Raytheon for the F-22 Program
(St. Louis, December 10, 2007) -- LaBarge, Inc. (AMEX: LB) has received a contract valued at $13.9 million from Raytheon Space and Airborne Systems for continued production of electronic assemblies for the F-22 Raptor, a stealth fighter plane developed for the U.S. Air Force by prime contractor Lockheed Martin. LaBarge has manufactured the assemblies for Raytheon since 2002.
The F-22 is widely regarded as the most advanced fighter in the world, designed to establish air dominance at the onset of a conflict. The aircraft is built to penetrate enemy airspace undetected and achieve a first-look, first-kill capability against multiple targets. In addition to its advanced offensive and defensive avionics, increased speed and range capabilities, the fighter was developed to reduce support requirements and maintenance costs. In June 2007, the Lockheed Martin-led F-22 Raptor aircraft team received the National Aeronautic Association (NAA) 2006 Robert J. Collier Trophy, which is considered America's most prestigious award for aeronautical and space development.
LaBarge expects production on the contract to begin in March 2008 at the Company's Joplin, Mo., facility, and continue for approximately a year.
Source : LaBarge Inc.
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