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Business/Financial

Raytheon Wins $2.4 Billion Contract To Provide Patriots To Qatar

Monday, December 22nd, 2014

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Raytheon Wins $2.4 Billion Contract To Provide Patriots To Qatar

Raytheon's Patriot air and missile defense system. (Photo: Raytheon)

Raytheon [RTN] received a $2.4 billion Foreign Military Sales (FMS) contract to produce new-production fire units of the Patriot Air and Missile Defense System for Qatar, the company said on Monday. The contract contains the latest fire units, which includes increased computing power, greater radar processing efficiency, an improved man-machine interface, and reduced life-cycle costs. Qatar is a new Patriot customer and is becoming the 13th international Patriot customer. The contract is part of a modernization and recapitalization effort that…

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