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Raytheon Forecasts Increased Int’l Patriot System Demand; William Swanson Comments

Raytheon logoRaytheon officials expect the company to receive new orders and system upgrade contracts for the Patriot air and missile defense system during the second half of 2013, Reuters reported Sunday.

Andrea Shalal-Esa writes the company has invested more than $400 million over the last four years in a Patriot modernization program.

“Once you upgrade it you can go back to all your other customers and offer them the upgraded hardware to reduce their costs, reduce the spare content and so forth, ” Raytheon CEO William Swanson told Reuters.

The company expects to receive a potential $2 billion order from Qatar for Patriot fire units and a $500 million order from Kuwait for upgrade services, the report says.

Tim Glaeser, Raytheon vice president of integrated defense systems, told Reuters the company could also upgrade equipment from Poland after that country purchases the equipment from Germany.

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