Subjects: CON, MAT
Raytheon signs mentoring agreement with Phoenix Products, Inc.
TUCSON, Ariz., Jan. 15, 2019 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Kentucky-based Phoenix Products, Inc. signed a U.S. Department of Defense Mentor-Protégé agreement to produce Naval Strike Missile, or NSM, transport containers under a $1.6 million U.S. Navy contract.
PPI is a woman-owned, small business that is in a Historically Underutilized Business Zone. Raytheon and Oakwood University in Huntsville, Alabama, will train and support PPI in technical, quality and management processes.
The mentor-protégé program provides large businesses with incentives to help smaller ones develop technical and operating capabilities to be more competitive with DoD programs. The three-year agreement with PPI marks progress in Raytheon's domestic production of the missile designed by Norway's defense leader Kongsberg.
"Raytheon is partnering with small and disadvantaged businesses to help them succeed and contribute to our industry," said Kim Ernzen, Raytheon Air Warfare Systems vice president. "NSM production is bringing jobs and revenue to a growing network of U.S. suppliers, and it is all the more meaningful when the work makes a significant impact in a local community. It's a win for everyone."
PPI's experience manufacturing similar containers makes it an ideal fit for Raytheon's latest production needs.
"The program will enable PPI to take the next steps to be a fully capable aerospace container and ground support equipment manufacturer," said Tom Wilson, PPI president. "It will help ensure we continue to employ highly capable people and train local residents with significant skill sets for now and in the future."
Kentucky Congressman Hal Rogers, a senior member of the Defense Appropriations Subcommittee, said the agreement is beneficial for everyone involved.
"This partnership demonstrates the continued commitment of the defense industry to reach out to new and innovative suppliers in Kentucky to meet its requirements," Rogers said. "I advocated on behalf of the mentor-protégé agreement with the Navy and look forward to the 5th Congressional District being a long-term partner on this advanced cruise missile program."
About NSM
NSM is a long-range, precision strike missile that can detect and destroy heavily defended land and sea targets at ranges in excess of 100 nautical miles. In May 2018, Raytheon was awarded a U.S. Navy contract to manufacture and deliver the over-the-horizon weapon system for the Navy's littoral combat ships and future frigates.
About Raytheon
Raytheon Company, with 2017 sales of $25 billion and 64,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 96 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter.
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SOURCE Raytheon Company
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