Monday, February 9, 2009

Raytheon lands $246M UAE missile contract

By Mass High Tech staff

Raytheon Co. has been awarded a $246 million contract from the United Arab Emirates to supply Patriot missile system spares. The five-year foreign military sales contract included an initial $123 million, the first delivery order, from the U.S. Army Aviation and Missile Command in Redstone Arsenal, Ala.

Work on the contract will be conducted at the Raytheon Integrated Defense Systems’ Tewksbury business unit headquarters, as well as the Integrated Air Defense Center in Andover, the Surveillance and Sensors Center in Sudbury and the Seapower Capability Center in Portsmouth, R.I.

Raytheon Integrated Defense Systems is the prime contractor for the Patriot system. Waltham-based Raytheon, with 72,000 employees, reported a 2007 net income of $3.5 billion on revenue of $21.3 billion.

Last month, Raytheon announced a $154 million deal to upgrade Taiwain’s Patriot missile systems. Under the foreign military sales contract, Raytheon will provide upgrade kits for radar and command and control components, as well as a radar refurbishment, and related engineering and technical services.