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MarketScreener Homepage  >  Equities  >  Nyse  >  Raytheon    RTN

RAYTHEON

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Raytheon : Rheinmetall form joint venture for US Army combat vehicle competition; Team to make Lynx vehicle in America

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10/02/2019 | 11:25am EST

Raytheon Company (NYSE: RTN) and Rheinmetall Defence have established a joint venture to offer the Lynx Infantry Fighting Vehicle for the U.S. Army's Optionally Manned Fighting Vehicle, or OMFV, competition. The U.S.-based joint venture is called Raytheon Rheinmetall Land Systems LLC.

Scheduled for fielding in 2026, the OMFV is expected to replace the Bradley fighting vehicle. The new vehicle will be optimized for urban combat and rural terrain. The Army has named the OMFV as a top modernization priority supported under the service's Futures Command structure.

'This advanced combat vehicle will be made in America,' said Sam Deneke, Raytheon Land Warfare Systems vice president. 'Our team will produce and deliver a fighting vehicle to the U.S. Army that protects our troops and gives them an overwhelming advantage on the battlefield.'

Raytheon and Rheinmetall joined forces in 2018 to offer Lynx for the Army's OMFV competition. Lynx is a next-generation, tracked armored fighting vehicle designed to address the critical challenges of the future battlefield. Lynx provides ample growth capacity to support new technologies over the vehicle's lifetime, and features lower life-cycle costs.

'Lynx will be built in America by American workers,' said Ben Hudson, global head of Rheinmetall's Vehicle Systems division. 'By choosing Lynx, the Army has an extraordinary opportunity to provide U.S. troops with a fighting vehicle that will enable them to outmatch the threat for decades to come.'

Raytheon technology earmarked for the Lynx includes the company's advanced weapons, like the TOW missile, Active Protection System, third-generation sights, Coyote unmanned aircraft system and cyber.

The Lynx team will submit its bid on or before Oct. 1, 2019.

About Rheinmetall

Headquartered in Dusseldorf, the publicly traded Rheinmetall AG is a high-tech enterprise dedicated to the twin modern imperatives of mobility and security. Founded in 1889, the group today consists of two operational components: Rheinmetall Defence and Rheinmetall Automotive. One of the world's leading suppliers of military systems and equipment, Rheinmetall's Defence arm comprises three divisions: Vehicle Systems, Electronic Solutions and Weapon and Ammunition. The group's 23,000-strong global workforce generated sales last year of $6.9 billion. Follow us on Twitter.

About Raytheon

Raytheon Company, with 2018 sales of $27 billion and 67,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 97 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I 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.

RHEINMETALL AG

Corporate Sector Defence

Press and Information

Oliver Hoffmann

Rheinmetall Platz 1

40476 Dusseldorf

Germany

Phone: +49 211 473-4748

Fax: +49 211 473-4157

(C) 2019 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
RAYTHEON 0.40% 217.23 Delayed Quote.41.20%
RHEINMETALL -0.23% 96.86 Delayed Quote.25.82%
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Financials (USD)
Sales 2019 29 305 M
EBIT 2019 4 822 M
Net income 2019 3 322 M
Debt 2019 262 M
Yield 2019 1,71%
P/E ratio 2019 18,3x
P/E ratio 2020 16,7x
EV / Sales2019 2,07x
EV / Sales2020 1,87x
Capitalization 60 299 M
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Average target price 227,00  $
Last Close Price 216,53  $
Spread / Highest target 22,4%
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Thomas A. Kennedy Chairman & Chief Executive Officer
Anthony F. O'Brien Chief Financial Officer & Vice President
Mark E. Russell VP-Engineering, Technology & Mission Assurance
Kevin Neifert Chief Information Officer
William R. Spivey Independent Director
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