Raytheon awarded $149 million contract by Rafael for Iron Dome interceptor components
TUCSON, Ariz., Sept. 30, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received a contract award from Rafael Advanced Defense Systems Ltd. valued at $149.3 million to provide products for the Tamir interceptor used in the defensive Iron Dome Weapon System.
Raytheon will utilize its extensive technology resources and supplier network to provide a second source of supply for essential Iron Dome interceptor components. With more than 1,000 successful intercepts, Tamir is the only combat proven counter rocket, artillery, and mortar interceptor available for U.S. and coalition partners today.
"Iron Dome has proven itself time and again by protecting Israel's population from incoming rockets, artillery and mortars," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president. "The sourcing of Tamir interceptor components in the U.S. will go a long way to ensuring sufficient volumes of available Tamir missiles for Israel's defense."
The award builds upon a co-marketing agreement the two companies have had in place for Iron Dome since 2011.
"The partnership between the Missile Defense Agency and the Israeli Missile Defense Organization has been extraordinary," said DiDi Yaari, chief executive officer of Rafael Advanced Defense Systems. "We're very appreciative of the U.S.'s support for this life-saving system. Maintaining Iron Dome's supply gives Israelis great peace of mind."
Raytheon Company, 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.
SOURCE Raytheon Company