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Raytheon to End Goleta Projects

October 06, 2006|From Bloomberg News

Missile maker Raytheon Co. said Thursday that it would close its civil space operation in Goleta, Calif., in early 2008, affecting 250 workers.

The civil space work and many employees will be transferred to Raytheon's space and airborne systems headquarters in El Segundo, spokesman Ron Colman said.

On Thursday, 25 workers were told their jobs would be eliminated in 60 days, and more positions may be reduced by attrition or job cuts, he said.

Projects at the Goleta plant include a sensor to measure climate changes, and advanced infrared sensors that are part of the National Polar-Orbiting Operational Environmental Satellite System.

Raytheon said its electronic warfare systems and vision systems operations would stay in Goleta.

Shares of Waltham, Mass.-based Raytheon rose 40 cents to $49.60. They have risen 24% this year.

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