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Aerojet Signs Multi-Year Agreement for TOW Warhead Fabrication
SACRAMENTO, Calif., Aug. 2, 2005 -- Aerojet, a GenCorp Inc. (NYSE: GY) company, recently signed a multi-year agreement with Raytheon Missile Systems to fabricate warheads for the TOW-2A and TOW-2B missile systems. Aerojet’s initial-year contract is valued at $19.4 million and the company has negotiated options through 2009.
The Tube-launched, Optically tracked, Wire-guided (TOW) Weapon system is intended to defeat armored vehicles and urban threats. Aerojet’s current year contract includes fabrication, loading, and assembly of more than 4,000 TOW-2A and TOW-2B warheads.
Aerojet previously filled contracts for TOW warheads, delivering more than 60,000 TOW-2A and TOW-2B warheads to Raytheon in multiple contractual agreements.
The TOW weapon system can be mounted on a variety of platforms, including the Bradley Fighting Vehicle, the High Mobility Multi-Purpose Wheeled Vehicle, and the AH-1F Cobra helicopter. It can also be operated from an unmounted ground position. The TOW- 2A missile is fired by a TOW launcher directly at armored vehicles, while the TOW-2B flies overhead and destroys the target by firing two Aerojet-built explosively formed penetrator warheads in a top attack engagement.
Aerojet will fabricate hardware at its Sacramento, Calif. facility and construct all components of the TOW warhead production process at its Socorro, N.M. facility.
“This award solidifies Aerojet’s current position as the highly reliable supplier of choice for TOW warhead production to Raytheon,” said Aerojet President Michael Martin. “For decades, the TOW weapons system has performed with precision on the battlefield, delivering offensive superiority while providing essential defense to our troops.”
Aerojet is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets. GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate business segment that includes activities related to the development, sale and leasing of the Company’s real estate assets. Additional information about Aerojet and GenCorp can be obtained by visiting the Companies’ Web sites at http://www.Aerojet.com and http://www.GenCorp.com.
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