Raytheon Company (NYSE: RTN) marked its 30-year anniversary of partnership with the United Arab Emirates by announcing it has formed Raytheon Emirates, a new, wholly owned subsidiary incorporated and headquartered in Abu Dhabi.
John Brauneis named Chief Executive of Raytheon Emirates.
The creation of Raytheon Emirates supports the Abu Dhabi Economic Vision 2030 by forming an aerospace and defense business that fosters cyber-secure digital transformation, contributes to the nation's economic diversification, and employs a highly skilled, highly productive Emirati workforce.
"The establishment of Raytheon Emirates is a strong step forward in our longstanding alliance with the United Arab Emirates," said Thomas A. Kennedy, Raytheon Company Chairman and CEO. "Through partnerships with government, industry and academia, Raytheon is committed to helping the UAE achieve its economic goals while providing trusted, innovative solutions that support the nation's defense and security requirements."
The new subsidiary will oversee Raytheon's operations in the Emirates by leveraging capabilities and resources in the fields of cybersecurity, effectors, air defense and sustainment, and advanced technology, and by applying Raytheon expertise, processes and systems to the development of human capital and locally based suppliers.
"We are focused on expanding the capabilities of Raytheon and its business partners in the UAE by emphasizing local hiring and talent development, cultivating a strong supplier base, and developing new technology solutions," said John Brauneis, who was named chief executive of Raytheon Emirates.
Raytheon Emirates is incorporated on Al Maryah Island, and plans are underway to establish operational branches in other areas of Abu Dhabi.
Source: Raytheon Corporation (NYSE: RTN)
Date: Dec 7, 2017