Thu, Jan 08, 2009

Business

Raytheon wins Saudi contracts topping $100 million

Bloomberg News
Tucson, Arizona | Published: 10.03.2007
NEW YORK — Raytheon Co., the world's largest missile maker, won two air-defense contracts from Saudi Arabia totaling more than $100 million.
The awards include a multiyear contract to provide technical, training and logistics support for the country's Patriot and Hawk air-defense systems, Waltham, Massachusetts- based Raytheon said today in a statement. Raytheon also received a contract extension to provide local support services for 2007.
The Patriot air- and missile-defense system is capable of destroying aircraft, cruise and tactical missiles and unmanned aerial vehicles, while the Hawk system provides low- to medium- altitude protection against threats.
The systems are handled by Raytheon's Integrated Defense Systems business unit, based in Tewksbury, Mass.
Raytheon, which posted sales of $20.3 billion last year, has a 46-year history with the Saudi government, and plans to bid on a border-security contract scheduled to be awarded early next year.
Tucson-based Raytheon Missile Systems is Southern Arizona's biggest employer, wth more than 11,000 workers in the Tucson area.