Raytheon has agreed to sell Stinger launcher systems to Turkey in a contract valued at about $34 million, subject to U.S. Congressional approval.
In a press release Thursday, the defense contractor said it will provide 150 standard vehicle mounted launchers and more than 170 air-to-air Stinger launchers, as well as spare parts and logistics support.
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Raytheon said the contract “opens the door” for future business with the Turkish Undersecretariat for Defence Industries, including the potential sale of Stinger launchers for the Turkish attack line.
The company will provide the standard vehicle mounted launchers for integration into the Turkish pedestal mounted Stinger systems, known in Turkey as Zipkin and Atilgan. The Zipkin and Atilgan fire units will use Turkey ‘s existing Stinger missiles for very short-range air defense.
Raytheon posted 2001 earnings from continuing operations of $1.35 a share, on sales of $16.87 billion.
The company’s New York Stock Exchange-listed shares traded recently at $44.80, up 5 cents, or 0.1%, on composite volume of 382,000 shares. Average daily volume is 2.2 million shares.
