Wednesday, September 2, 2009

Raytheon lands $27M contract from Taiwan

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Raytheon Co has received a $27 million contract to provide technical assistance for Taiwan’s Patriot Air and Missile Defense System.

The contract between the Waltham defense contractor (NYSE: RTN) and the U.S. Army Aviation and Missile Command, which facilitates the sale to Taiwan, is a modification to an existing technical assistance contract awarded last year. Taiwan and Raytheon completed upgrades to the missile defense system ahead of schedule, which prompted the need to modify the contract.

Raytheon will provide field engineers in Taiwan to refurbish Patriot equipment and provide training and support for the systems.

Raytheon’s Integrated Defense Systems business unit, based in Tewksbury, is the prime contractor for the Patriot system.