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Stock Market & Financial Investment News

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February 24, 2014
08:03 EDTRTNRaytheon awarded $123M Phalanx contract from Korean Navy
Raytheon signed a $123M contract to deliver nine Phalanx Block 1B Close-In Weapon Systems to the Republic of Korea Navy. Under the direct commercial sale, the largest ever for the Phalanx program, Raytheon will deliver the Phalanx systems for installation aboard the FFX Batch II frigate-class ships and AOE II-class fast combat support ships. Deliveries will begin in 2016 and are scheduled to be completed in 2022. The contract was signed during the fourth quarter 2013.
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