The State Department has approved a $1.405 billion foreign military sale of Patriot Advanced Capability missiles and components to South Korea.
Raytheon (NYSE: RTN) and Lockheed Martin‘s (NYSE: LMT) missiles and fire control business are the primary contractors for the sale, the State Department said Wednesday.
South Korea has ordered 136 PAC-3Â missiles with containers, Â flight test targets, telemetry, launchers, trainers, PAC-3 slings, installation kits for TPX-58 identification friend or foe, shorting plugs, global positioning receivers, fiber optic modem, guided missile transporters and AN/VRC-90E radios.
The sale also includes technical documentation, personnel training, technical support services and quality assurance support.