Tim Glaeser, a vice president at Raytheon (NYSE: RTN), expects the governments of U.S. and Qatar to reach an agreement by the end of the year for Qatar to purchase a Patriot missile defense system from the U.S. through a foreign military sales agreement, Reuters reported Tuesday.
Glaeser, vice president of Raytheon’s integrated defense systems business, told Reuters’ Andrea Shalal that he expects the deal to close within the next four to eight weeks.
Qatar plans to acquire Patriot systems, Boeing (NYSE: BA)-built attack helicopters and Raytheon-Lockheed Martin (NYSE: LMT)-built Javelin missiles under a larger $23 billion weapons deal, Shalal reports.
Reuters reports Qatar wants to bolster its defense systems in order to counter threats from Iran.
Glaeser also told the news agency that Raytheon eyes a separate Patriot system deal with Saudi Arabia under a commercial sale agreement.