Updated July 31 at 5:31pm

Raytheon wins Saudi missile-system contract

WALTHAM, Mass. – Raytheon Co., a Massachusetts-based defense contractor with a facility in Portsmouth, has won a $1.7 billion contract with Saudi Arabia to improve that country’s air- and missile-defense systems, The Boston Globe reported.

To continue reading this article, please do one of the following.



Enter your email to receive Providence Business News' e-newsletters
and breaking news alerts.  

RHODE ISLAND & MASSACHUSETTS NEWS BRIEFS

Raytheon wins Saudi missile-system contract

Posted:

WALTHAM, Mass. – Raytheon Co., a Massachusetts-based defense contractor with a facility in Portsmouth, has won a $1.7 billion contract with Saudi Arabia to improve that country’s air- and missile-defense systems, The Boston Globe reported.

Patriot systems are defensive weapons, described by the company as protection against “a full range of advanced threats.” Twelve countries use the Patriot missile-defense system.

Industry analysts told the newspaper that the deal was large by defense-industry standards. “This [contract] is part of what Raytheon has been assuming would make its year and now it’s in place,’’ said Howard Rubel, an analyst who follows Raytheon for Jefferies & Co., an investment firm in New York.

Raytheon declined to comment further on the deal. •

26-13, 070411 R.I. & MASS. NEWS BRIEFS, , 26-13, issue070411export.pbn

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
Latest News