Raytheon Co. (NYSE: RTN) will take in $655 million via a foreign military sale agreement to produce new units of its Patriot air and missile defense system for the government of Kuwait, which is currently using the Patriot system as part of its missile defense capabilities.
The contract is for the Massachusetts-based contractor’s “new-production fire units, ” which the company said it designed to feature improved computing power and radar processing over earlier units.
“We continue to see an increased interest in and demand for the advanced Patriot as the system is called to duty in hot spots around the world, ” said Ralph Acaba, vice president of integrated air and missile defense at Raytheon’s Integrated Defense Systems business.
“Kuwait is part of Patriot’s current family of 12 nations that have already selected Patriot as the cornerstone of their air and missile defense strategy, ” Acaba added, noting that the system will be applied toward the protection of critical infrastructure and people.
Raytheon said it will tap international suppliers for the work on the U.S. Army Aviation and Missile Command award, and perform contract work in Andover, Mass.
