COLLEFERRO, ITALY / ACCESSWIRE / July 25, 2024 / Avio signed a contract with Raytheon, an RTX (NYSE:RTX) business, leaders in defense solutions for the U.S. Government and Allied Demand, to initiate and progress the development of critical solid rocket motors for defense applications. The contract furthers the systems engineering work required to mature these solid rocket motors into a production-ready state.
"This partnership with Avio marks a commitment between our companies to work together to develop resilient and responsive production of solid rocket motors," said Bob Butz, vice president, operations and supply chain, Raytheon. "We will continue to develop and mature potential rocket motor solutions with Avio to ensure we can meet the increased long-term demand of our domestic and international customers."
Avio's planned investments in capability and capacity enable them to help support immediate customer demand. Avio is leveraging its Italian manufacturing and engineering teams' existing capabilities to support the maturation of Avio USA and to facilitate their domestic solid rocket motor manufacturing strategy. Avio USA is a wholly owned subsidiary of Avio headquartered in Arlington, Virginia.
"We are leveraging our past experience and track record in solid rocket motors to help expand production capacity and develop new product lines to meet the growing demand," said Giulio Ranzo, CEO of Avio. "Avio and Avio USA are eager to partner with Raytheon to build a more resilient U.S. industrial base for rocket motors."
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Alessandro Agosti
Investor Relations
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Nevio Quattrin
Investor Relations
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Francesco De Lorenzo
Media Relations
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SOURCE: Avio
View the original press release on newswire.com.