Raytheon Company (NYSE: RTN) signed a Letter of Intent with Poland's PIT-RADWAR to cooperate in mutually beneficial business opportunities related to Poland's air defense architecture, as well as significant exports to global markets. The companies will examine areas for partnership in the following categories:
Radar equipment and subsystems design, fabrication and integration including:
"We are pleased to extend our cooperation with Raytheon. We expect this partnership will result in commercial advantages for both sides," said Ryszard Kardasz, President of PIT-RADWAR S.A.
"Raytheon looks forward to its continued partnership with PIT-RADWAR. In Spring this year, we signed a contract with them (formerly Bumar Elektronika) on the design and development of a modernized Patriot Identification Friend or Foe (IFF) antenna," said Mike Shaughnessy, Vice President of Supply Chain, Raytheon Integrated Defense Systems. "These partnerships demonstrate Raytheon's commitment to collaborating with Polish Defense industry on meaningful engineering & technology projects."
Source: Raytheon Corporation (NYSE: RTN)
Date: Oct 14, 2014