GD, Raytheon secure $502 mln contract to operate missile test site

Feb 25 (Reuters) - A joint venture of U.S. aerospace and defense companies General Dynamics Corp and Raytheon Co has won a $502 million contract to operate the U.S. Army’s Ronald Reagan ballistic missile defense test site in the Pacific Ocean, the firms said on Monday.

Under the 10-year contract, the joint venture, RGNext, will oversee the launches of space vehicles and ballistic missiles, as well as missile defense tests conducted from islands in the 750,000-square-miles Pacific Ocean range.