Thales-Raytheon JV Inks $180M NATO Missile Defense Deal; Jack Harrington Comments

ThalesRaytheon SystemsA joint venture of Raytheon (NYSE: RTN) and Thales Group has signed a $180 million contract with NATO to build and deploy a ballistic missile defense system for the alliance’s air command and control system.

ThalesRaytheonSystems will upgrade the system’s radars and satellites, data communications capacity and tracking features, ThalesRaytheon said Thursday.

“As prime contractor for this theater ballistic missile defense system, ThalesRaytheonSystems has played a central role in the cooperation across the transatlantic industrial base involving 8 nations and 15 industry partners, ” said CEO Jack Harrington.

The joint venture built an interim ballistic missile defense system that was fielded at Ramstein Air Base in Germany last year.

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