Raytheon Signs Agreement With Mitsubishi Electric Company
TEWKSBURY, Mass., May 25, 2007 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Integrated Defense Systems' President Dan Smith signed an agreement with representatives of Mitsubishi Electric Company (MELCO) that will allow both companies to cooperatively explore global market opportunities in naval radars and combat systems.
The signing took place during a short ceremony earlier this week in Japan.
The agreement extends a relationship into new markets that has existed for more than 40 years between the two businesses. MELCO is already the licensed producer for some Raytheon systems, including HAWK, Seasparrow, ESSM, and Patriot.
"This agreement is a symbolic step in solidifying the relationship between MELCO and Raytheon," said Smith. "We look forward to growing our partnership in the areas of shipboard integrated weapons systems and other pursuits."
During his trip, Smith also met with members of the Diet and senior members of the Japanese Self Defense Forces.
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 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 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 73,000 people worldwide.
Contact: Mike Nason 703.419.1421
SOURCE: Raytheon Company
CONTACT: Mike Nason of Raytheon Company, +1-703-419-1421
Web site: http://www.raytheon.com/