SM-2 missile

State Department OKs $85M SM-2 Missile Sale to Chile

The State Department has cleared a potential $85 million foreign military sale of Raytheon Technologies-built (NYSE: RTX) Block IIIA Standard Missile-2 systems to support Chile's anti-air warfare arsenal.

The planned FMS deal covers 16 SM-2 Block IIIA missiles including rail-launched munitions and two missiles integrated with telemeter technology, the Defense Security Cooperation Agency said Friday.

Contract items also include guidance sections, a target detection device kit, spare parts, associated equipment and services such as training, technical, logistics and program support.

Raytheon’s missiles and defense business will serve as the primary contractor for the sale.

According to DSCA, the potential transaction is intended support the integration of anti-air warfare technologies for the Chilean navy’s recently transferred frigates.

DSCA notified Congress of the proposed sale Friday.

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