Raytheon reaches $1B multiyear deal for missile propulsion systems

Posted at 12:37 PM, Mar 30, 2020
and last updated 2020-03-30 15:37:30-04

Tucson missile maker Raytheon Co. says a new $1 billion multiyear deal for propulsion systems from California-based Aerojet Rocketdyne will result in savings for the U.S. Department of Defense and American taxpayers.

Raytheon said in an announcement the multiyear deal allows it to save money in its supply chain as it fulfills contracts with the Missile Defense Agency and U.S. Navy.

"These multi-year agreements also allow our suppliers to transform the way they do business with Raytheon,” said Eugene Jaramillo, Raytheon Missile Systems vice president of global supply chain management, in a statement.

Aerojet Rocketdyne CEO and President Eileen Drake hailed the deal as good for future opportunities and good for her company’s relationship with Raytheon.

Read more from the Phoenix Business Journal.