Raytheon Awarded $38.5 Million to Upgrade Patriot for South Korea
TEWKSBURY, Mass., July 15, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received a $38.5 million contract from COMLOG to upgrade Patriot missiles for South Korea.
COMLOG is a joint venture between Raytheon and the German missile company LFK, a member of the multi-national MBDA group. The contract follows the sale of Patriot systems from the German Ministry of Defense to South Korea's Air Force. Raytheon's work to upgrade the missiles under the contract will be performed at its Integrated Air Defense Center in Andover, Mass.
"The contract enables the upgrade of 64 Korean Patriot Advanced Capability-2 missiles to Guidance Enhanced Missile-Tactical, or GEM-T, configuration, providing enhanced capability against ballistic and cruise missiles, aircraft and remotely piloted vehicles," said Sanjay Kapoor, vice president of Patriot Programs for Raytheon Integrated Defense Systems. "This upgrade is designed to enhance system capabilities to meet current and emerging threats."
This contract complements awards to Raytheon for command and control, communications, maintenance support, and engineering support for South Korea's Patriot program earlier this year.
Raytheon Integrated Defense Systems (IDS) is the prime contractor for the Patriot system and the integration of all variants of the system.
Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.
Contact: Mike Nason 703.419.1421
SOURCE: Raytheon Company
CONTACT: Mike Nason, Raytheon Company, +1-703-419-1421
Web site: http://www.raytheon.com/