TUCSON, Ariz., March 12 -- Raytheon Co. has been awarded a $64.2 million contract to produce Paveway II Laser Guided Bomb (LGB) kits for the US Navy. The contract includes kits for the GBU-12 (500 lb.) and GBU-16 (1000 lb.) general purpose bombs. Each LGB kit consists of a front-end guidance system and an air foil group, which includes the flight stability fins. Raytheon has produced the Paveway series of LGBs since the Vietnam era. The company has kept the production line in continuing operation through international sales and internally funded improvements.