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Taiwan Spends $1.1 Billion For New Production Patriot Air, Missile Defense Systems

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By Geoff Fein Raytheon [RTN] has received Foreign Military Sales (FMS) contract awards totaling $1.1 billion to fund new production of the Patriot Air and Missile Defense System for Taiwan, the company reported Wednesday. The awards include ground-system hardware through an initial contract valued at $965.6 million and an initial spares contract valued at $134.4 million, according to Raytheon. The sale is a continuation of the large amount of interest the company has had, over the past two to three…

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