Raytheon Technologies (NYSE: RTX) will provide a long-range, anti-ship cruise missile system to the government of Romania under a potential $217.1 million contract from the U.S. Navy.
Romania will initially obligate $208.7 million to acquire the Naval Strike Missile Coastal Defense System through U.S. foreign military sales program, the Defense Department said Thursday.
In May 2021, the two countries signed a letter of offer and acceptance regarding the NSM CDS procurement.
Norway-based company Kongsberg Defence and Aerospace developed NSM CDS and partnered with Raytheon to market the weapon system.
Raytheon’s missiles and defense unit will perform work under the new firm-fixed-price contract, which the Pentagon expects to conclude by September 2028.
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