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Raytheon, Rafael to Co-Produce Missile Interceptors; Pini Yungman Comments

iron domeRaytheon Co. (NYSE: RTN) and Israeli state-owned company Rafael Advanced Defense Systems are planning to co-develop an air defense system that is already used in Israel for the U.S. Army and allied forces, Defense News reported Thursday.

Barbara Opall-Rome writes Rafael and Raytheon also want to jointly build Stunner interceptors, originally built for the US-Israel government-funded David’s Sling Weapon System, for the U.S. Army and partners.

Both companies have reached a new agreement, pending approval from Israel’s Defense Ministry and the U.S. Missile Defense Agency, for Raytheon to produce missile components for Israel’s Iron Dome interceptor and for Rafael to integrate those systems, according to the report.

The Defense Department allocates a conditional amount of $680 million in funds for that agreement, provided Israel agrees on the U.S. production of Tamir missile parts, and budget for the U.S. co-production of subsystems is estimated at 170 million, the report says.

Pini Yungman, director of Rafael’s missile defense systems directorate, told Defense News Raytheon intends to remodel the Stunner interceptor in order to complement Lockheed Martin (NYSE: LMT)-developed missiles.

David Sling’s Stunner is built to counter threats through impact, Defense News reports.

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