LOUISVILLE, Ky. (AP) -- Defense contractor Raytheon Co. said Friday it won a contract worth $57.8 million with the U.S. Navy to upgrade nine weapons systems and build two missile defense systems.
The company said it will overhaul nine so-called Phalanx close-in weapon systems, which are computer-controlled radar and gun systems that detect and destroy threats to Navy ships.
Ratheon said it will build two anti-ship missile defense systems called SeaRAMs. The contract also includes the purchase of 20 radar upgrade kits.
Shares of Raytheon fell 25 cents to $49.91 in afternoon trading.