Raytheon wins $350 mln deal for SM-3 missiles

WASHINGTON, March 5 Wed Mar 5, 2014 5:39pm EST

WASHINGTON, March 5 (Reuters) - Raytheon Co has won a contract valued at up to $350 million to increase the number of Standard Missile-3 Block 1B missiles and other materials to 44 from 8, the U.S. Defense Department said on Wednesday.

The contract award runs through September 2016, according to the Pentagon's daily digest of major weapons contract.

The SM-3 missile is a defensive weapon used by the Navy to destroy short-to-intermediate-range ballistics missiles.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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