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Raytheon Co. has landed $58.3 million from the U.S. Army to update Patriot missiles, according to the U.S. Department of Defense.
Under the contract, Raytheon will continually update technology on 124 Patriot bodies owned by the Army. Work on the contract will be performed in Andover and is expected to be completed by March 31, 2012.
More about Raytheon
Last week, Raytheon brought in two contracts worth more than $1 billion from the U.S. Army to provide Patriot missiles for Taiwan. The total comprises two foreign military sales deals, a $965.6 million contract for the ground system hardware and another contract worth $134.4 million for spare parts.
Earlier this month, Raytheon brought in $17.2 million from the U.S. Army to upgrade Patriot Missile Systems for the government of South Korea.
Headquartered in Waltham, Raytheon (NYSE: RTN) employs about 73,000 people. The company reported a net income of $490 million on revenue of $6.2 billion for the quarter ended September 27.
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