Raytheon wins $350 million deal for SM-3 missiles

WASHINGTON Wed Mar 5, 2014 5:41pm EST

One of Raytheon's Integrated Defense buildings is seen in San Diego, California January 20, 2011. REUTERS/Mike Blake

One of Raytheon's Integrated Defense buildings is seen in San Diego, California January 20, 2011.

Credit: Reuters/Mike Blake

WASHINGTON (Reuters) - Raytheon Co (RTN.N) 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.

(Reporting by Andrea Shalal; Editing by Bernard Orr)

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