General Dynamics got a new missile competitor.
The Navy has qualified Raytheon Co., a major competitor to General Dynamics in building tactical missiles, to become a producer of its Standard Missile 2, a ship-to-air weapon. General Dynamics’ Pomona division has been a sole source producer of the weapon. The Navy plans to buy 2,000 of the missiles annually through 1995. Last year, General Dynamics received $330,000 per missile. Raytheon has told the Navy that it can build the missiles for less.