Raytheon Lands $396M Romania Missile Fire Unit FMS Contract Modification

Raytheon (NYSE: RTN) business unit has secured a $395.8 million modification under a U.S. Army foreign military sales contract to produce a missile fire unit for Romania.

Raytheon’s integrated defense systems business will supply the Phased Array Tracking on Radar to Intercept Option Fire Unit to the FMS client, the Defense Department said Monday.

The Army Contracting Command obligated $244.1 million in FMS funds at the time of award.

Work will take place at various locations in Massachusetts, New Hampshire, Texas, Rhode Island and Pennsylvania through April 30, 2020.

Romania finalized an agreement in November of last year to procure the Raytheon-built Patriot Integrated Air and Missile Defense System from the Army.

The signing of the Letter of Offer and Acceptance came nearly four months after the State Department approved a potential $3.9 billion FMS deal for the provision of Patriot Configuration-3+ modernized fire units to the Romanian government.

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