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Raytheon Awarded $58 Million for Patriot Tactical Missile Upgrades
TEWKSBURY, Mass., April 26, 2011 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $58.3 million contract for Patriot Guidance Enhanced Missile-Tactical, or GEM-T, missiles.
The U.S. Army Aviation and Missile Command (AMCOM), Redstone Arsenal, Ala., issued the contract to upgrade 131 Patriot Advanced Capability-2 missiles to the GEM-T configuration. This is a follow-on contract as part of AMCOM's Patriot missile continuous technology refreshment program initiated in 2000.
"These continuing upgrades speak to the critical role Patriot plays in our 12 partner nations' air and missile defense capabilities," said Sanjay Kapoor, vice president for Patriot Programs at Raytheon Integrated Defense Systems (IDS). "This cost-effective alternative makes it possible for them to increase their air and missile defense capabilities, using existing Patriot systems."
The Patriot GEM-T missile upgrades include the replacement of select components that increase reliability and extend the service life of the missile. GEM-T upgrades are ongoing under existing contracts with the U.S. and other Patriot partner nations and are performed at Raytheon's Integrated Air Defense Center in Andover, Mass.
Raytheon IDS is the prime contractor for both domestic and international Patriot Air and Missile Defense Systems and system integrator for Patriot Advanced Capability-3 missiles.
Raytheon Company (NYSE: RTN), with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 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.
SOURCE Raytheon Company