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06:47 AM, August 24, 2018
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MK-54 MK Lightweight Torpedo

Raytheon has won $60 million modification contract to exercise Option Year Two for the production of torpedo components in addition to spares, production support material, and related engineering services and hardware support.

This modification combines purchases for the Navy and the governments of Taiwan, Canada, Australia and India under the Foreign Military Sales (FMS) program. Work is expected to be completed by July 2021, the US department of defense said in a statement Friday.

FMS funding in the amount of $32,143,188; fiscal 2018 weapons procurement (Navy) in the amount of $27,053,441; and fiscal 2016 weapons procurement (Navy) in the amount of $870,615 will be obligated at time of award, and funds in the amount of $870,615 will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity.

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