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Raytheon Awarded $769 Million To Upgrade Korean Patriots

Friday, April 3rd, 2015

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Raytheon [RTN] March 30 was awarded a $769.4 million direct commercial sale contract to upgrade an undisclosed number of Patriot Air and Missile Defense System batteries to the latest Patriot Missile Defense System Solution configuration currently fielded.“The upgrade enhances the Republic of Korea's defenses and underscores the value of the 13-nation strong Patriot partnership which funded development of the modernization,” said Dan Crowley, president of Raytheon Integrated Defense Systems. “The Republic of Korea’s procurement is also an economic growth engine…

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