Raytheon gets stop-work order on U.S. Navy jammer contract
WASHINGTON, July 25 (Reuters) - Raytheon Co Chief Executive William Swanson said the company had received a stop-work order from the U.S. Navy on the next-generation electronic jammer contract it won this month after BAE Systems Plc filed a protest against the decision.
But Swanson told analysts the company was "very comfortable" about its prospects of holding onto the award.
He said Navy acquisition officials were very thorough and generally prevailed in any protest actions.
"You have to look at the protest results that people have against them. And this is not a competition that happened overnight," Swanson said, noting that the Navy had seen the competitors' performance on initial demonstration contracts.
"We feel very comfortable in their selection. Of course we're biased, but we feel comfortable," he said.