Raytheon awarded not-to-exceed $3.3 billion Patriot order for the UAE
TEWKSBURY, Mass., (Dec. 18, 2008) /PRNewswire/ — Raytheon Company (NYSE: RTN) has been awarded a not-to-exceed $3.3 billion order to provide advanced Patriot air and missile defense capability, whole life support and training for the United Arab Emirates (UAE).
Raytheon and teammate Lockheed Martin have worked with the U.S. and UAE governments during the past year to develop this agreement. The U.S. government approved the Foreign Military Sale (FMS) of Patriot Config-3 capabilities including Patriot GEM-T and Lockheed PAC-3 missiles. The U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., issued an order to Raytheon Integrated Defense Systems (IDS) Dec. 17, 2008.
"For 25 years, we have provided advanced technology and innovation to the UAE," said William H. Swanson, Raytheon Chairman and CEO. "Today, we are honored that the UAE government has entrusted us to deliver this unique capability to support the defense of its country."
Raytheon established its first office in the UAE in 1983 and began delivery and support of the medium range Hawk Air Defense System to the UAE in 1987.
"Patriot's advanced technology provides significant benefits in system capability, reliability, sustainability and affordability to U.S. and allied forces around the world," said Raytheon IDS President Daniel L. Smith. "With this order, the UAE joins 11 other countries that rely upon Patriot to provide a key element of their national defense."
Raytheon IDS is the prime contractor, both domestic and international, for the Patriot air and missile defense weapon capability and the system integrator for the Config-3 system. Work supporting this order will be performed at the Raytheon Integrated Air Defense Center, Andover, Mass.
"Demand for the upgraded Patriot system is supported by our global team of partners and suppliers," said Sanjay Kapoor, Raytheon IDS vice president of Patriot Programs. "The employees of Raytheon and all our supply partners stand ready to deliver these systems with the product quality and technical excellence for which we are well known."
Integrated Defense Systems is Raytheon's leader in Global Capabilities Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.