June 23, 2009 (FinancialWire) — Raytheon Co. (NYSE: RTN) has been awarded a $154.8 million contract from the Canadian Navy to conduct 30 sets of overhauls and convert 21 Phalanx close-in weapon systems.

The contract calls for Raytheon to convert the Phalanx Block 1B Baseline 0 to a Baseline 1 configuration and to provide repair services and spares, as well as additional engineering and technical support. The work will be performed at Raytheon Canada Ltd. Support Services in Calgary, Alberta.

Waltham, Massachusetts-based Raytheon specializes in defense, homeland security and other government markets throughout the world. The company provides electronics, mission systems integration and other capabilities in the areas of sensing, effects, and command, control, communications and intelligence systems, as well as a range of mission support services.

Raytheon employs 73,000 people worldwide.

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