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State Dept. Approves $5.4B Saudi PAC-3 Missiles Sale

PatriotMissileSaudi Arabia has placed an order for Patriot Advanced Capability-3 missiles, equipment and associated services by Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN) through a $5.4 billion foreign military sales deal with the U.S. government.

The State Department cleared the possible sale of 600 PAC-3s plus test missiles, telemetry systems, guidance flight test targets, fire solution computers, launcher modification kits, round trainers, slings and Patriot automated logistics system kits to Saudi Arabia, the Defense Security Cooperation Agency said Wednesday.

The transaction also includes the deployment of 70 U.S. government and contractor personnel in Saudi Arabia to provide equipment de-processing, fielding, training, system checkout and logistics support for up to six months.

DSCA said Saudi Arabia would use the weapons in the country’s homeland defense and regional stability missions and the agency does not expect the sale to have an adverse impact on U.S.’ military readiness efforts.

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