On Tuesday, Raytheon announced that it would be overhauling and providing support services for the Royal Canadian Navy operated Phalanx Close-In Weapon System.

The company says the deal, announced Tuesday, is worth $330 million and taps Raytheon Canada Limited to provide "maintenance, fleet technical support, repair and overhaul services on the Phalanx mounts which will ensure the systems are ready to address current and emerging threats."

"The Phalanx CIWS is an integral element of the Canadian Navy's defence," Terry Manion, RCL vice president and general manager, said in a press release.

"This contract supports modernization work that will keep these systems ready and relevant well into the future," Manion said.

The Raytheon-manufactured Phalanx weapon system is a rapid-fire, computer-controlled, radar-guided gun designed to defeat anti-ship missiles and other close proximity threats on land and at sea.

Work on the contract will occur at Raytheon Canada Limited's Calgary facilities.

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