The Raytheon-Rafael Protection Systems (R2S) joint venture was awarded a $1.25 billion contract to supply Israel with Tamir surface-to-air missiles. Raytheon is an RTX (NYSE: RTX) business. The direct commercial sales contract includes missiles, missile kits and test equipment.
The companies used a $33 million capital investment to establish the new facility, which opened earlier this month in East Camden, Arkansas . The facility was established to support the Israel Missile Defense Organization's (IMDO), operating within the Israeli MOD's Directorate of Defense Research and Development (DDR&D), initiative to accelerate serial production of Iron Dome interceptors. The new site will produce the Tamir missiles for the Iron Dome Weapon System and its U.S. variant, SkyHunter® for the Marine Corps' Medium-Range Intercept Capability (MRIC) program.
"This is the first production contract for the R2S joint venture and a major milestone for both Raytheon and Rafael," said Jonathan Casey , R2S Chief Executive Officer. "The new Camden site is the first all-up-round production facility in the U.S. to manufacture Tamir and SkyHunter missiles."
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Download free sample pages More informationDeveloped by Rafael and operational since 2011, the Iron Dome system has repeatedly proven its effectiveness in combat, intercepting thousands of threats with a success rate exceeding 95%. Raytheon and Rafael have teamed for over a decade on Iron Dome. The U.S. version of the Iron Dome Weapon System's Tamir, SkyHunter, is a short to medium-range air defense weapon designed to counter a range of threats, including cruise missiles, aircraft, rockets, artillery and mortars.
