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Raytheon wins U.K. deal
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June 15, 1999: 11:42 p.m. ET
Company gets $1.3B contract to create radar system for British military
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NEW YORK (CNNfn) - Raytheon Systems Ltd., a subsidiary of Raytheon Co., won a $1.3 billion contract to provide an airborne radar surveillance system for the British military, the aerospace company said Tuesday.
The United Kingdom Ministry of Defense Airborne Standoff Radar, or ASTOR program, provides day, night and all-weather imagery of the ground over a large area.
The company said the imagery can be analyzed aboard the aircraft and passed in near real-time to ground stations and other military systems.
Lexington, Mass.-based Raytheon (RTN.B) said the ASTOR decision allows the company to work toward marketing its system worldwide, including to the North Atlantic Treaty Organization Alliance Ground Surveillance program.
The company said it intends to seek further growth in business in Britain and throughout Europe.
Raytheon class-B shares were up 1-3/8 at 73-3/8 in afternoon trading.
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Raytheon
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