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Raytheon Receives $1.7 Billion For Saudi Patriot Upgrades

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Raytheon [RTN] said recently it received a $1.7 billion Direct Commercial Sales contract to upgrade Saudi Arabia's Patriot Air and Missile Defense System to the latest Configuration-3. The award includes ground-system hardware, a full training package and support equipment upgrades. "Raytheon is honored to provide the most technologically advanced air and missile defense system in the world to Saudi Arabia," said Tom Kennedy, president of Raytheon Integrated Defense Systems (IDS). "We are pleased that, with this contract, they have shown…

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