Thursday, August 14, 2008

Raytheon IDS’s Patriot missiles to get $34M makeover

By Mass High Tech Staff

Raytheon Co. reports its Integrated Defense Systems business unit has landed a $34.4 million contract from the U.S. Army to continue modernization of the Patriot missile system.
 
Under the deal, Raytheon (NYSE: RTN) will upgrade the Army’s Patriot systems to its latest model, which the company calls configuration 3. The work includes hardware upgrades to radar systems, control stations and launchers. Work will be performed at Raytheon’s Integrated Air Defense Center in Andover. The contract is a follow-on to a $310 million deal awarded to Raytheon by the U.S. Army Aviation and Missile Command in 2007. 

Last month, the defense giant brought in two contracts worth $190 million for its Patriot missile technology. Raytheon IDS landed a $156 million foreign military sales award from the U.S. Army to provide Kuwait with radar upgrade kits for its Patriot missile systems, as well as engineering and technical services. IDS also got a $38.5 million deal from COMLOG, a joint venture between Raytheon and the German arm of multinational missile company MBDA Ltd. Under the deal, Raytheon will upgrade Patriot missile systems sold to South Korea’s air force by the German Ministry of Defense.

Also in July, Raytheon landed a $21.2 million contract from the U.S. Navy for components used in a missile launching system. Under that contract, Raytheon Integrated Defense Systems will deliver components of the NATO Seasparrow MK48 Guided Missile Vertical Launch System for use by the Canadian, Dutch and Belgian militaries.

Raytheon IDS is a Tewksbury-based business unit of Waltham-based Raytheon. Raytheon reported a 2007 net income of $3.5 billion on revenue of $21.3 billion.