Poland has signed potential 10-year offset agreements with Raytheon (NYSE: RTN) and Lockheed Martin (NYSE: LMT) related to the European countryâs planned procurement of the Patriot missile system, The Times of Israel reported Friday.
âThe offset agreements for the Wisla program are signedâ¦ This is the final step before signing the contract for the delivery of the Patriot system,â Mariusz Blaszczak, Polandâs defense minister, said in a tweet.
The report said the offset deals with Lockheedâs global business and Raytheon are respectively worth $212 million and $65.3 million and the final contract for the Patriot system could be signed by Wednesday, March 28.
The State Department approved in November 2017 Polandâs request to buy the Patriot configuration 3+ system from the U.S. government under a potential $10.5 billion foreign military sales agreement.
Patriot is a mobile air defense platform that works to intercept cruise missiles, tactical ballistic missiles and aircraft.