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Business/Financial

Raytheon Gains Up To $3.3 Billion Patriot Order For UAE

DDN

Monday, December 22nd, 2008

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The Army gave Raytheon Co. [RTN] a not-to-exceed $3.3 billion order for advanced Patriot air and missile defense capability, whole life support and training for the United Arab Emirates (UAE). Raytheon and teammate Lockheed Martin Corp. [LMT] worked with the U.S. and UAE governments during the past year on the agreement. The U.S. government approved the Foreign Military Sale (FMS) of Patriot Config-3 capabilities including Patriot GEM-T and Lockheed PAC-3 missiles. That contract is handled by the U.S. Army Aviation…

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