Raytheon Receives $1.7 Billion to Upgrade Patriot for Saudi ArabiaBy Raytheon Company, PRNE
Monday, June 20, 2011
TEWKSBURY, Massachusetts, June 21, 2011 -
Raytheon Company (NYSE: RTN) has received a $1.7 billion Direct
Commercial Sales contract to upgrade Saudi Arabia’s Patriot Air and
Missile Defense System to the latest Configuration-3. The award
includes ground-system hardware, a full training package and
support equipment upgrades.
“Raytheon is honored to provide the most technologically
advanced air and missile defense system in the world to Saudi
Arabia,” said Tom Kennedy, president of Raytheon Integrated Defense
Systems (IDS). “We are pleased that, with this contract, they have
shown further confidence in Raytheon and the superior air and
missile defense capabilities of the Patriot system.”
The business partnership of Raytheon and the Kingdom of Saudi
Arabia spans 45 years and a number of programs. Raytheon first
supplied the combat-proven Patriot system to Saudi Arabia in the
1990s to protect the nation’s critical assets. Subject to customary
U.S. regulatory approvals, work under this contract will be
performed by Raytheon at the Integrated Air Defense Center in
Andover, Mass. and in Saudi Arabia.
Patriot is the affordable, low-risk and effective air and
missile defense system of choice of 12 countries around the globe.
The newly redesigned Patriot protects against a full range of
advanced threats, including aircraft, tactical ballistic missiles,
cruise missiles and UAVs.
Raytheon is the prime contractor for both domestic and
international Patriot Air and Missile Defense Systems and system
integrator for Patriot Advanced Capability-3 missiles.
Raytheon Company, with 2010 sales of $25 billion, is a
technology and innovation leader specializing in defense, homeland
security and other government markets throughout the world. With a
history of innovation spanning 89 years, Raytheon provides
state-of-the-art electronics, mission systems integration and other
capabilities in the areas of sensing; effects; and command,
control, communications and intelligence systems, as well as a
broad range of mission support services. With headquarters in
Waltham, Mass., Raytheon employs 72,000 people worldwide.
Tags: June 21, Massachusetts, Raytheon Company, Saudi Arabia, Tewksbury