Raytheon was awarded a modified contract from the U.S. Army for M982 Excalibur projectiles.
The terms of the deal were made public in a press statement released Thursday by the Department of Defense. The contract is worth more than $70.6 million.
The M982 Excalibur is a 155mm, extended range, GPS-guided artillery shell. It's commonly used in indirect fire support missions within 500 feet.
Work on the contract will occur in several states in the United States, Sweden and the United Kingdom, and is expected to be completed by January 2020, according to the Pentagon press release.
More than $70.6 million from U.S. Army other procurement funds from fiscal year 2016 and 2018 will be obligated to Raytheon at the time of award, according to the release.
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