Raytheon, EG&G; Wins Military Deal
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A Raytheon Co. joint venture won military work worth as much as $1.7 billion to support Air Force and Navy training ranges in California, Nevada and Utah.
Raytheon’s Technical Services Co. of Reston, Va., and teammate EG&G; Technical Services of Gaithersburg, Md., won an initial $96.7-million, one-year, cost-plus contract with the potential for $1.7 billion through 2016.
The Raytheon-EG&G; team will provide technical services, maintenance and engineering for the Nevada Test and Training Range; the Utah Test and Training Range; the Air Force Flight Test Center at Edwards Air Force Base and the Navy’s Electronic Combat Range at China Lake, Calif.
Raytheon shares fell $1.25 to $29.80 on the NYSE.
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