Lockeed, Raytheon Primes On Proposed $4.2B Kuwait Patriot Missile Sale

Kuwait plans to purchase up to $4.2 billion in Raytheon-made (NYSE: RTN) Patriot missiles from the U.S. government through a foreign military sales agreement.

Both Lockheed Martin (NYSE: LMT) and Raytheon are listed as prime contractors of the sale, according to a Defense Security Cooperation Agency release dated July 20.

Kuwait plans to purchase 60 PAC-3 missiles, four radars, four engagement control stations, 20 launching stations, two information coordination centrals and 10 electric power plants.

The proposed sale also includes personnel training and training equipment, spare and repair parts, documentation and U.S. government and contractor technical and logistics services.

If Congress approves the sale, three contractor representatives will travel to the country on a temporary basis for program, technical support and management oversight.

Lockheed and Raytheon are also listed as prime contractors on a proposed $3 billion foreign military sale of Apache helicopters to Qatar.

Boeing (NYSE: BA) and a Lockheed-Northrop Grumman (NYSE: NOC) joint venture are also primes.

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