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Raytheon Gains $100 Million In Patriot, Hawk Contracts From Saudi Arabia

DDN

Friday, October 5th, 2007

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Saudi Arabia gave two contracts to Raytheon [RTN] totaling more than $100 million for air defense missile systems and other work. One pact involves a multi-year deal for Raytheon to continue providing technical, training and logistics support from this year through 2009 for Saudi Patriot and Hawk air defense systems. The other is a contract extension to provide local support services this year. Patriot is a combat-proven air and missile defense system capable of simultaneously engaging and destroying threat aircraft,…

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