Hello, Guest!
  • Friday, April 26, 2024

Report: Saudi Arabia to Buy $7B in Precision-Guided Munitions From Raytheon, Boeing


Saudi Arabia will purchase precision-guided munitions from Boeing (NYSE: BA) and Raytheon (NYSE: RTN) under an agreement worth approximately $7 billion, Reuters reported Thursday.

Sources told Reuters the proposed deal was part of a potential $110 billion package of weapons sales agreements that President Donald Trump and Saudi King Salman bin Abd al-Aziz Al Saud signed in May.

“We do not comment to confirm or deny sales until they are formally notified to Congress,” an official with the State Department said.

A U.S. government official told Reuters the proposed agreement has a 10-year term and that actual transfers of precision-guided munitions to the Middle Eastern country could possibly take years.

The report noted that weapons sales to Saudi Arabia and other members of the Gulf Cooperation Council could face delay in Congress over civilian deaths in Yemen associated with the Saudi-led campaign.

Video of the Day

Related Articles

BAE Secures $72.5M Army Munition R&D Work Contract Awards

BAE Secures $72.5M Army Munition R&D Work

BAE Systems will expand its research and development work on precision guided munition technology under a $72.5 million contract from the U.S. Army’s Combat Capabilities Development Command Armaments Center. R&D services under the three-year contract center on the XM1155-SC projectile as part of the branch’s long-range precision fire modernization initiative, the company said Thursday. The

CGI Lands $92M in Army Contracts for Aviation & Missile Command Support Services Contract Awards

CGI Lands $92M in Army Contracts for Aviation & Missile Command Support Services

CGI (NYSE: GIB) has received multiple contracts worth $92.5 million combined to provide support services for four initiatives of the U.S. Army Aviation and Missile Command. The company said Wednesday it will provide software development and acquisition process services for the Multiple Launch Rocket System Precision Guided Munitions program in support of AMCOM’s precision fires

Raytheon Lands $200M Int’l Laser-Guided Bomb Contract; Richard Daniel Comments Contract Awards

Raytheon Lands $200M Int’l Laser-Guided Bomb Contract; Richard Daniel Comments

Raytheon‘s (NYSE: RTN) U.K. subsidiary will deliver $200 million worth of Paveway IV bombs to an unidentified international customer, the first sale of the weapon outside Britain. “This contract is an export boost to the U.K., ” Richard Daniel, Raytheon UK CEO, said Friday. The precision-guided Paveway bombs use laser and GPS for air-to-ground warfare and have