Saudi Arabia Awards Raytheon Two Air Defense Contracts
TEWKSBURY, Mass., Oct. 3, 2007 /PRNewswire-FirstCall/ -- The Kingdom of Saudi Arabia has awarded two contracts to Raytheon Company (NYSE: RTN) totaling more than $100 million.
The awarded contracts include a multi-year contract to Raytheon to continue to provide technical, training and logistics support from 2007 through 2009 for the Kingdom's Patriot and Hawk air defense systems. The other is a contract extension to provide local support services for 2007.
"Raytheon is proud to continue to extend support services to the Kingdom of Saudi Arabia through these contracts," said Otis Hopkins, Raytheon's general manager in Jeddah, Saudi Arabia.
Patriot is a combat-proven air and missile defense system capable of simultaneously engaging and destroying threat aircraft, cruise missiles, unmanned aerial vehicles and tactical ballistic missiles. Complementing the Patriot system, the Hawk system provides robust low-to-medium altitude air defense against a wide range of air-breathing threats including cruise missiles.
Integrated Defense Systems is Raytheon's leader in Joint Battlespace 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 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 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 73,000 people worldwide.
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