Raytheon
government departments and agencies (e.g. More than 90 percent of Raytheon s revenues were obtained from defense contracts and, as of 2007, it was the fifth largest defense contractor in the world, and is the fourth largest defense contractor in the United States by revenue. Raytheon Headquarters was moved from Lexington, Massachusetts to Waltham, Massachusetts on October 27, 2003.On October 12, 1999 Raytheon exited the personal rapid transit (PRT) business as it terminated its PRT 2000 Raytheon is composed of six major business divisions: Raytheon’s businesses are supported by several dedicated international operations including: Raytheon Australia (Managing Director, Michael Ward); Raytheon Canada Limited; operations in Japan; Raytheon Microelectronics in Spain; Raytheon System Limited in the UK; and ThalesRaytheonSystems, France. In recent years, Raytheon has expanded into other fields while redefining some of its core business activities. The settlement was exceptional in that the parties agreed that judgment would be entered against Raytheon, legally establishing the validity of AGES allegations. In October 1999, Raytheon was the subject of a number of securities class action lawsuits alleging it had issued a series of materially false and misleading statements including overstating the company s 1997 and 1998 revenues, concealing cost overruns and inflating its financial results.
On Tuesday, October 12, 1999, Raytheon shares were trading at about 45% below the level at which they had been traded on October 11, 1999. The suits were brought in response to a massive drop in value of Raytheon s common stock as traded on the New York Stock Exchange.
Bush traveled to Raytheon s Patriot manufacturing plant in Andover, Massachusetts during the Gulf War, he declared, the Patriot is 41 for 42: 42 Scuds engaged, 41 intercepted! After the Gulf War had concluded, the staff of the House Government Operations Subcommittee on Legislation and National Security reported, In October 1994, Raytheon paid $4 million to settle a U.S. Both Raytheon and AGES had been vying for the contract, which Raytheon had held for decades but which AGES won in 1996.
Raytheon is the world s largest producer of guided missiles. Established in 1922, the company reincorporated in 1928 and adopted its present name in 1959. Nonetheless, Raytheon ultimately was awarded the contract after lobbying by the administration of U.S.
It was previously involved in corporate and special-mission aircraft until early 2007. In 2005 groundwater monitoring indicated polluted groundwater was moving into areas outside the site. In another case, Raytheon was ordered by the Environmental Protection Agency to treat groundwater at the Tucson Plant (acquired during the merger with Hughes) in Arizona since Raytheon used and disposed metals, chlorinated solvents, and other substances at the plant since 1951. .
Soil and groundwater had been contaminated with the volatile organic compounds trichloroethylene and 1,4-Dioxane. Air Force and U.S.
Its special-mission aircraft included the single-turboprop T-6A Texan II, which had been chosen to be the primary training aircraft for the U.S. When President George H.
In later decades it remained a major producer of missiles, among them the Patriot antimissile missile and the air-to-air Phoenix missile. In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers, power equipment, and electronic auto parts.
government to perfect and mass-produce the magnetron for ground-based, airborne, and shipborne radar systems, and, with support from the Massachusetts Institute of Technology s Radiation Laboratory (recently formed to investigate microwave radar), Raytheon received a contract to build the devices. and got into the educational publishing business with the acquisition of D.C.
District Judge Albert V. Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation — a subsidiary of General Motors, which included a number of product lines previously purchased by Hughes Electronics including the former General Dynamics missile business, the defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems. Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration.
In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995), Chrysler Corporation s defense electronics and aircraft-modification businesses (1996) (portions of these businesses were later sold to L-3 Communications), and the defense unit of Texas Instruments - Defense Systems & Electronics Group (1997). in the Fiscal Year 2007 the National Science Foundation awarded Raytheon $152 million dollars in grants, more than to any other institution and organization in the country In March 1990, Raytheon pleaded guilty to one felony count of illegally obtaining classified Air Force budget and planning documents.
U.S. Heath.
In the 1950s Raytheon began manufacturing transistors, including the CK722, priced and marketed to hobbyists. In 1961, the British electronics company A.C. By the 1930s, it had already grown to become one of the world s largest vacuum tube manufacturing companies. Early in World War II, physicists in England invented the magnetron, a specialized microwave-generating electron tube that markedly improved the capability of radar to detect enemy planes.
Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business. In 1980, Raytheon acquired Beech Aircraft Corporation, a leading manufacturer of general aviation aircraft founded in 1932 by Walter H. Petersburg, Florida.
AGES also alleged that stolen confidential pricing documents were turned over to Raytheon. Raytheon then received military contracts to develop the air-to-air Sparrow and ground-to-air Hawk missiles — projects that received impetus from the Korean War.
Navy.. In 1991, during the Persian Gulf War, Raytheon s Patriot missile received great international exposure, resulting in a substantial increase in sales for the company outside the United States. These two entities were merged in 1994 to become the Raytheon Aircraft Company.
Brazilian police wiretapped a telephone conversation between a special advisor to the Brazilian President Fernando Henrique Cardoso, and Raytheon s operative in Brazil, Jose Afonso Assumpcão. Bryan, Jr.
In 1948 Raytheon began to manufacture guided missiles. Department of Defense and other U.S.
Raytheon has identified four key Strategic Business Areas where it is focusing its expertise and resources, including: William H. In 1950 its Lark missile became the first such weapon to destroy a target aircraft in flight.
Gomes dos Santos and Brazil s aviation minister resigned because of allegations that this conversation suggested that bribes were paid. These include: Raytheon also produces and runs the ABACUS (Advanced BAttlefield CompUter Simulation) or Higher Formation Trainer (HFT) for training HQs from small specialist units up to corps level. Raytheon Professional Services (RPS) is a global leader Clients are offered training tailored to their needs.
Company, an American manufacturer of electron tubes and switches, to form the successor of the same previous name, Raytheon Manufacturing Company. In November 1991, prior to Raytheon s acquisition, contamination had been discovered at the E-Systems site.
In the same year, it changed its name to Raytheon Company. During the post-war years Raytheon also made radio and television transmitters and related equipment for the commercial market in the U.S. Services include: (1) Performance Consulting & Learning Strategy Development, (2)Training Design, Development & Delivery, (3) Learning Technologies and (4)Training Administration As the vast majority of Raytheon s revenues have been obtained from defense contracts, there has been a tight relationship of cooperation between itself and the U.S.
According to transcripts published in the Brazilian national weekly Isto É, when Assumpcão told Gomes dos Santos that Brazilian Senator Gilberto Miranda might block the Raytheon contract, Gomes dos Santos responded, Damn, did you already pay this guy? . The Cossor side of the organisation is still current in the Raytheon group as of 2009. In 1965 it acquired Amana Refrigeration, Inc., a manufacturer of refrigerators and air conditioners.
In 1993 the company expanded its aircraft activities by adding the Hawker line of business jets by acquiring Corporate Jets Inc., the business jet product line of British Aerospace (now BAE Systems). The company was previously headquartered in Cambridge, Massachusetts from 1922–1928, Newton, Massachusetts from 1928–1941, Waltham from 1941–1961, Lexington from 1961–2003, and back to Waltham from 2003 onwards. In 1922, two former engineering college roommates Laurence K.
President Bill Clinton. In 1996 a corporation called AGES Group filed a lawsuit against Raytheon in a federal court in Alabama over a $450 million contract to service C-12 Huron and U-21 military aircraft. government claim that it inflated a defense contract for antimissile radar. Just one year earlier, on October 14, 1993, Raytheon paid $3.7 million to settle allegations that it misled the U.S.
imposed a $10,000 criminal fine for one felony count of conveyance without authority and $900,000 in civil penalties and damages. Cossor merged with Raytheon , following it s sale by Philips.
American companies were then sought by the U.S. In 1947 the company demonstrated the Radarange microwave oven for commercial use. In 1945 the company expanded its electronics capability through acquisitions that included the Submarine Signal Company (founded in 1901), a leading manufacturer of maritime safety equipment.
During the war Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Raytheon s research on the magnetron tube revealed the potential of microwaves to cook food. The Boston Herald reported that AGES alleged that the security firm Wackenhut Corporation, hired by Raytheon, used video and audio surveillance to spy on a consulting firm hired by AGES to help it prepare its bid.
In 1945 Raytheon s Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food. The new Company s name was Raytheon Cossor.
Although the plea only involved 1983 Air Force documents, United States Attorney Henry Hudson said Raytheon also illegally obtained a wide range of secret Pentagon documents. During the 1991 Gulf War, Raytheon received widespread publicity in the United States in connection with its manufacture of the Patriot missile (MIM-104 Patriot). The Patriot missile is an anti-aircraft missile that was upgraded to have some capability against ballistic missiles.
Marshall and Vannevar Bush, along with scientist Charles G. In the late 20th century it produced a wide range of integrated circuits and other components, but as of 2003 its semiconductor business specializes in gallium arsenide (GaAs) components for radio communications.
In 1928 Raytheon merged with Q.R.S. The company has around 73,000 employees worldwide and annual revenues of approximately US$20 billion.
At war s end in 1945 the company was responsible for about 80 percent of all magnetrons manufactured. The plunge in stock prices was triggered by a Wall Street Journal report that Raytheon was over cost or behind schedule on more than a dozen fixed-price defense contracts.
Raytheon Company (NYSE: RTN) is a major American defense contractor and industrial corporation with core manufacturing concentrations in defense systems and defense and commercial electronics. Raytheon is also a leader in marine electronics, manufacturing shipboard radar and sonar systems, autopilots, depth finders, and Global Positioning System (GPS) devices. FIRSTplus Air Traffic Control Simulator AutoTrac III ATM System Raytheon is a developer and manufacturer of radars (including AESAs), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications.
The documents allegedly gave Raytheon an unfair advantage against its competitors in bidding for weapons contracts. In 1959 Raytheon acquired the marine electronics company Apelco Applied Electronics, which significantly increased its strength in commercial marine navigation and radio gear, as well as less-expensive Japanese suppliers of products such as marine/weather band radios and direction-finding gear.
In the first quarter of 2007 Raytheon sold its aircraft operations, which is now operating as Hawker Beechcraft. This crash represented a loss of about $8 billion in market value in a single day.
The scope of each contract can vary from short-term training initiatives and projects to multi-year outsourcing engagements for some or all of a client’s training function. Examples include: Raytheon, often in conjunction with Boeing, Lockheed Martin or Northrop Grumman, is also heavily involved in the satellite sensor business.
On May 12, 1999, Reuters reported that Raytheon would pay $3 million to AGES Group and purchase $13 million worth of AGES aircraft parts to settle the AGES lawsuit. This made it possible to convert household alternating current to direct current for radios and thus eliminate the need for expensive, short-lived batteries. In 1925 the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with great commercial success.
Defense Department by overstating the labor costs involved in manufacturing Patriot missiles. Allegations of bribery were made against Raytheon in 1995 in connection with its efforts to win a 1.4 billion dollar radar contract from Brazil for the SIVAM project. Within a few months of being awarded the contract, Raytheon had already begun to mass manufacture magnetron tubes for use in radar sets and then complete radar systems.
Petersburg, Florida due to concern with health risks, property values, and contamination in April 2008. In 1995, Raytheon acquired Dallas-based E-Systems, including a site in St. The product line of Raytheon s aircraft subsidiary included business jets such as the Hawker 800XP and Horizon, the Beechjet 400A, and the Premier I; the popular King Air series of twin turboprops; and single-engine piston aircraft such as the Beech Bonanza.
Smith, founded the American Appliance Company in Cambridge, Massachusetts.) and was used in a battery eliminator, a type of radio-receiver power supply that plugged into the power grid in place of large batteries. With its broadened capabilities, Raytheon developed the first guidance system for a missile that could intercept a flying target.
Much of its Space and Airborne Systems division in El Segundo, CA is devoted to this, a business it inherited from Hughes. The Patriot had allegedly intercepted Scud missiles launched by Iraq in its defense against the U.S.-led invasion.
Beech. Examples of programs include: As part of the company’s growing homeland security business and strategic focus, Raytheon has teamed with other contractors to develop an Advance Spectroscopic Portal (ASP) to allow border officials to peer into vehicles and containers to identify radioactive materials. Raytheon also manufactures semiconductors for the electronics industry.
SIVAM, the acronym for System for Vigilance over the Amazon, was a complex radar surveillance system for use in monitoring the Amazon rainforest, allegedly to curb the trafficking of narcotics and to curb illegal logging or burning of the forest. It is also making efforts to develop gallium nitride (GaN) components for next-generation radars and radios. In the framework of Ground-Based Midcourse Defense, Raytheon is developing a Ground-Based Interceptor (GBI) which includes a booster missile and a kinetic Exoatmospheric Kill Vehicle (EKV), along with several key radar components, such as the Sea-Based X-Band Radar (SBX) and the Upgraded Early Warning Radars (UEWR). Raytheon is a developer of missiles and related missile defense systems.
Other members of the board of directors of Raytheon are: Barbara Barrett, Vernon Clark, Ferdinand Colloredo-Mansfeld, John Deutch, Thomas Everhart, Frederic Poses, Warren Rudman, Michael Ruettgers, Ronald Skates, William Spivey, and Linda Stuntz. In addition to its US domestic facilities, Raytheon has offices in countries worldwide, including Australia, Belgium, Brazil, Canada, Chile, China, Czech Republic, Egypt, France, Germany, Greece, India, Italy, Japan, Kuwait, Malaysia, Marshall Islands, Norway, Republic of Korea, Singapore, Saudi Arabia, Spain, Sweden, Taiwan, Thailand, Turkey, United Arab Emirates, and the United Kingdom. Raytheon s electronics and defense-systems units produce air-, sea-, and land-launched missiles, aircraft radar systems, weapons sights and targeting systems, communication and battle-management systems, and satellite components. Swanson is the Chairman and CEO.
W. On May 13, 2004 Raytheon reported that it had reached a preliminary agreement to pay $410 million in cash and securities to settle a class-action lawsuit alleging it misled investors by not disclosing difficulties on various Pentagon and construction projects five years before. On April 24, 2006 in a statement released by Raytheon, CEO Swanson admitted to plagiarism in claiming authorship for his booklet, Swanson s Unwritten Rules of Management, after a report by The New York Times. Two lawsuits were filed against a Raytheon Company plant in St.
