Aerojet Rocketdyne Commits to $1Bln Multi-Year Standard Missile Parts Deal - Raytheon

WASHINGTON (Sputnik) - Aerojet Rocketdyne has signed a multi-year, strategic sourcing agreement worth $1 billion to guarantee a long-term supply of parts for Standard Missile programs, Raytheon said in a press release on Thursday.

"Raytheon Company's Missile Systems business has reached a $1 billion, five-year strategic agreement to purchase propulsion systems from Aerojet Rocketdyne for Standard Missile products," the release said.

The deal represents a supply chain centrepiece of multi-year Standard Missile contracts that Raytheon recently received, the company explained.

Aerojet Rocketdyne provides the majority of solid rocket motors for Raytheon's Standard Missile SM-2, SM-3 interceptor and SM-6 missile, the release noted.