U.S. Congressional and State Dept. approves Raytheon $1.7 billion Patriot contract with Saudi Arabia

TEWKSBURY, Mass., 1 Dec. 2011. U.S. Congressional and State Department officials have approved a $1.7 billion direct commercial sales contract won by Raytheon Company (NYSE:RTN) to upgrade the Kingdom of Saudi Arabia's Patriot Air and Missile Defense System. The upgrade to Configuration-3 incorporates ground-system hardware, a full training package, support equipment upgrades, and an interoperability capability to support potential coalition operations.

Patriot, adopted by 12 nations, is being called the world's most capable air and missile defense system, offering protection against advanced threats, such as aircraft, tactical ballistic missiles, cruise missiles, and unmanned aerial vehicles.

Raytheon is the prime contractor for domestic and international Patriot Air and Missile Defense Systems, as well as system integrator for Patriot Advanced Capability-3 missiles.