State Dept OKs Sweden’s Request for $3.2B in Patriot Missile Systems

The State Department has approved Sweden’s request to buy Patriot missile systems and related services from the U.S. government under a potential $3.2 billion foreign military sales agreement.

Raytheon (NYSE: RTN) and Lockheed Martin (NYSE: LMT) will serve as prime contractors in the proposed FMS deal that covers the procurement of four Patriot Configuration-3+ modernized fire units, the Defense Security Cooperation Agency said Thursday.

The Patriot Configuration-3+ platforms consist of AN/MPQ-65 radar sets, M903 launching stations, AN/MSQ-132 engagement control stations, Patriot Advanced Capability-3 Missile Segment Enhancement missiles, Patriot MIM-104E Guidance Enhanced Missile-TBM missiles and Electrical Power Plants III.

The proposed transaction also covers communications equipment, generators, range and test programs, repair parts, spares, staff training, test equipment, associated vehicles, engineering, technical and logistics services.

DSCA said Sweden will use the Patriot systems to build up its missile defense capability, advance regional stability and facilitate interoperability with U.S. and NATO forces.

The deal will require the deployment of approximately 32 contractor and 24 government representatives to the European country.