22 July 2010, FARNBOROUGH, England -- The South African Department of Defence awarded Raytheon Company (NYSE: RTN) a contract for Paveway II laser-guided bombs.
Raytheon will provide the South African military with LGB computer control groups and air foil groups that transform "dumb" bombs into precision-guided munitions for operational test and evaluation on South Africa's Gripen fighter aircraft.
ARMSCOR awarded a contract on behalf of the South African Air Force for the procurement of LGB bomb kits. ARMSCOR, the Armaments Corporation of South Africa, is the officially appointed acquisition organization for the South African DoD.
The direct commercial sale was negotiated with the assistance of South Africa's ATLANTIS Corporation and calls for Raytheon to begin delivery in 2011. In addition to the weapons, Raytheon will provide air- and ground-crew training.
"The combat-proven Paveway family of weapons is integrated on more than 22 aircraft and serves 41 nations around the globe, making this weapon the ideal choice for the South African warfighter," said Harry Schulte, vice president of Raytheon's Air Warfare Systems product line. "Raytheon is the sole provider of the Paveway family of weapons and is committed to providing the warfighter with a reliable direct-attack weapon at a cost-effective price."
Raytheon Company, with 2009 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 88 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 75,000 people worldwide.
Raytheon Company
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