Raytheon gets USD655m contract for missile defense system

4 March 2014

Raytheon Company (NYSE: RTN) said it has received a USD655m contract for new-production fire units of the Patriot Air and Missile Defense System for Kuwait.

These units are an addition to the Patriot fire units Kuwait currently owns to counter current and evolving threats.

Awarded by the US Army Aviation and Missile Command, Redstone Arsenal, Ala., as a foreign military sale agreement, the contract includes new units with increased computing power and radar processing efficiency, improved man-machine interface and reduced life-cycle costs.

Raytheon is a technology and innovation leader specializing in defense, security and civil markets throughout the world. It is headquartered in Waltham, Mass., and on the Net at www.raytheon.com and on Twitter @Raytheon.

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