Raytheon Receives $1.1 Bn to Advance Taiwan's Patriot Capability

• 'The Patriot system is a vital element to providing superior integrated air and missile defense capabilities for the protection of Taiwan'

(Tewksbury, Mass., December 23, 2009) -- Raytheon Company (NYSE: RTN) has received Foreign Military Sales contract awards totaling $1.1 billion to fund new production of the combat-proven Patriot Air and Missile Defense System for Taiwan. The awards include ground-system hardware through an initial contract valued at $965.6 million and an initial spares contract valued at $134.4 million.

"The Patriot system is a vital element to providing superior integrated air and missile defense capabilities for the protection of Taiwan," said Daniel L. Smith, president of Raytheon Integrated Defense Systems (IDS). "Raytheon has provided advanced technology, innovation and support in Taiwan for more than 40 years, and we are honored to continue that partnership today and in the future."

Source : Raytheon Corporation (NYSE: RTN)