Raytheon Company (NYSE: RTN) received a $115.9 million contract to provide engineering services for the Patriot Air and Missile Defense System. Through this contract, Raytheon will continue to deliver ongoing capability enhancements in support of the U.S. Army and Foreign Military Sales customers as they rely on their Patriot systems to stay ahead of evolving threats. The contract was awarded in Raytheon's first quarter of 2013.
Under the contract, issued by the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., Raytheon will provide systems analysis, software development, testing and logistics support, and other country-specific system requirements.
"NATO and our 12 Patriot partners worldwide count on Patriot to protect their people and allies, as we're witnessing today on the world stage," said Sanjay Kapoor, vice president of Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems (IDS) business. "The U.S. Army's continued commitment to Patriot sustainment through engineering services ensures that the Patriot systems are at the highest level of readiness whenever and wherever they are called to serve."
Source: Raytheon Corporation (NYSE: RTN)
Date: Jun 18, 2013