The defense contractor Raytheon. Corp, has just been awarded a $145 million dollar contract from the U.S Army Aviation and Missile Command. The contract will have Raytheon build patriot missiles for Kuwaits air and missile defense systems. Raytheon at the same time will be continuing to develop an upgrade for Kuwait’s radar system.
Raytheon Co. will make Patriot missiles for Kuwait’s air and missile defense systems under a new $145 million contract, the defense contractor said Monday.
Raytheon received the contract from U.S. Army Aviation and Missile Command. The company is already working on a radar system upgrade for Kuwait. Work on the missile contract will be done by Raytheon’s IDS unit in Andover, Md.
Shares of Raytheon fell 8 cents to $52.07 in morning trading.