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Business/Financial

U.S. Approves Raytheon $1.7 Billion Patriot Upgrade to Saudi

Defense Daily Staff

Thursday, December 1st, 2011

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Raytheon [RTN] yesterday said that it has received approvals from Congress and the State Department for its $1.7 billion direct sale to Saudi Arabia to upgrade the Kingdom’s Patriot Air and Missile Defense System to the Configuration-3 version. The approvals clear the way for the sale, which was first announced in June. Saudi Arabia currently operates the Configuration-2 version of Patriot. The Configuration-3 version includes hardware and software upgrades to improve system performance. The upgrades include the Radar Digital Processor,…

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