Raytheon Awarded $85.3 M by US Army for Excalibur Production
(TucsonUCSON, Ariz., Sept. 5, 2008 /PRNewswire/ -- The U.S. Army awarded Raytheon Company (NYSE: RTN) an $85.3 million contract to produce tactical Excalibur projectiles for the U.S. Army, U.S. Marine Corps and the Australian Defence Forces.
Excalibur, a cooperative effort between Raytheon Missile Systems and BAE Systems Bofors of Sweden, is an artillery projectile that provides precision- strike capability at extended ranges for current and future 155 mm howitzers.
"The Excalibur is a combat-proven artillery round that gives the soldier precision guidance and extended range," said Kevin Byrnes, Raytheon's vice president of Business Development-Army Executive. "Nothing is more important to us than providing the warfighter with innovative and highly effective technology."
Excalibur is the only precision projectile currently fired from U.S. Army (Paladin and LW155), USMC (LW155) and Canadian (LW155) 155 mm howitzers. The objective Excalibur has a 40-km (24.8 miles) range that demonstrates better than 10 meter-(32.8 feet) accuracy.
"Excalibur's accuracy and lethality have brought the howitzer into the 21st century," said Raymond Sicignano, U.S. Army deputy product manager for Excalibur. "It provides both the precision and responsiveness required for operations in heavily populated areas. Its surgical strike accuracy effectively eliminates enemy targets while protecting the civilian population."
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