Raytheon Company (NYSE: RTN) received a $73 million contract for spares as part of upgrades to Configuration-3 of the Patriot Air and Missile Defense System for Taiwan and Kuwait.
The contract is the first of its kind for international Patriot partners and combines the spares requirements for both Taiwan and Kuwait. The spares will support the upgrade and operation of existing Patriot systems fielded by both countries.
"This award enables us to quickly and effectively meet the in-country demands from Taiwan and Kuwait and is a strong indicator of the critical role the combat-proven Patriot continues to play for our 12 partner nations," said Sanjay Kapoor, vice president of Patriot Programs at Raytheon Integrated Defense Systems (IDS).
This contract from the U.S. Army and Missile Command, Redstone Arsenal, Ala., is the fourth order placed as part of a five-year Basic Ordering Agreement for Foreign Military Sales of Patriot-system spares.
Work under this contract will be performed by Raytheon IDS at the Integrated Air Defense Center in Andover, Mass.
Raytheon IDS is the prime contractor for both domestic and international Patriot Air and Missile Defense Systems and system integrator for Patriot Advanced Capability-3 missiles.
Raytheon Company, with 2009 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 88 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 75,000 people worldwide.