Raytheon Technologies Corp. (NYSE: RTX) signed a $6 billion contract modification Monday to provide the Defense Logistics Agency with parts and repair and engineering services for multiple weapons systems. The modification raises the potential value of the original indefinite-delivery/indefinite-quantity (IDIQ) contract to $8 billion, up from $2 billion.
That contract was awarded in 2015 and provides parts that are Depot Level Repairable (DLR) — a refurbished part designated by the Department of Defense as requiring high-level sophistication to repair — and consumable spare parts for a wide range of weapons systems supplied by Raytheon.
Past task orders under the contract have included DLR parts and consumable spare parts for the company’s PATRIOT Missile Weapon System assemblies and subassemblies...MORE
