Raytheon Agrees $1 Billion, Five-Year Supply Deal With Aerojet Rocketdyne
By Colin Kellaher
Raytheon Co. on Thursday said it struck a five-year, $1 billion
deal to buy propulsion systems for its Standard Missile products
from Aerojet Rocketdyne Holdings Inc.
The Waltham, Mass., defense giant said the shift to multi-year
contracting from an annual basis will help its suppliers and
provide savings to the U.S. Defense Department.
Raytheon said the agreement with Aerojet represents a
supply-chain centerpiece of multi-year Standard Missiles contracts
that the company has recently received.
El Segundo, Calif.-based Aerojet has supported one or more
variants of Raytheon's Standard Missile program for more than 30
Shares of Aerojet were recently up 9.1% to $41.33.
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(END) Dow Jones Newswires
March 26, 2020 11:31 ET (15:31 GMT)
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