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Print Edition StoriesTuesday, March 10, 2009
Army awards Raytheon $128M missile contract
By Mass High Tech staff
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Raytheon Co. has won a contract from the U.S. Army for $128.1 million to provide software and hardware engineering, testing, systems analysis and logistics support for the Patriot Air and Missile Defense System.
The deal calls for Raytheon (NYSE: RTN) to support Patriot systems in Saudi Arabia, Japan, Israel, Germany, The Netherlands, Kuwait, Spain, Greece, Taiwan, South Korea and the United Arab Emirates, in addition to the U.S.
Raytheon’s Integrated Defense Systems unit is the main provider of domestic and global Patriot missile systems.
The defense giant reported a contract award last month for $246 million in Patriot missile system supplies for the United Arab Emirates. 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.
Waltham-based Raytheon, with 72,000 employees, reported a 2008 net income of $1.7 billion on revenue of $23.2 billion.
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