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Tuesday, June 21, 2011

Raytheon secures $1.7B Saudi Arabia missile deal

By Kyle Alspach

Raytheon Co. (NYSE: RTN) said Tuesday it has won a $1.7 billion contract to upgrade Saudi Arabia’s Patriot Air and Missile Defense System, with the work expected to be performed at the company’s Integrated Air Defense Center in Andover, as well as in Saudi Arabia.

The Waltham-based defense giant said it will be upgrading Saudi Arabia’s Patriot system to the latest Configuration-3. The award includes ground-system hardware, a full training package and support equipment upgrades, Raytheon said.

The company said it first supplied the Patriot system to Saudi Arabia in the 1990s. Patriot is used in 12 countries around the world, and protects against threats including aircraft, tactical ballistic missiles, cruise missiles and UAVs, Raytheon said.

 

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