MUNICH, Jan. 31, 2014 /PRNewswire/ -- Speaking at the 50^th Munich Security Conference today, Raytheon International Inc. CEO, John D. Harris II, urged participants to consider new opportunities for greater transatlantic industrial cooperation, saying, "We need to pursue initiatives that deliver greater cost efficiencies in a way that maintains and improves our defense capabilities."

Harris made his remarks during a panel on the future of European defense, alongside serving and former European ministers of defense and the CEO of Airbus Group. He went on to say, "The prospect of more open, competitive markets resulting from a U.S. – EU free trade agreement represents opportunities, not threats, for European and North American defense companies.  Jointly, we can set standards and serve as an engine to boost defense cooperation, globally."

Raytheon employs more than 3000 people, and maintains around 500 suppliers across Europe. The company's holdings and partnerships in the UK, Germany, Spain and France all leverage locally developed technology and expertise to provide innovative solutions that are exported throughout the EU, to the U.S., and globally.

The Munich Security Conference brings together some 80 delegations from Europe and around the world, including a significant number of heads of state and government, senior cabinet officials and heads of international organizations.

About Raytheon

Raytheon Company (NYSE: RTN), with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 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 cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.

Media Contact
Faith Jennings
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Caroline Harris
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SOURCE Raytheon Company