Raytheon awarded $685.7 million by Taiwan for new Patriot systems

Posted by Skyler Frink

TEWKSBURY, Mass., Dec. 17, 2011. Raytheon Company (NYSE: RTN) has received a $685.7 million Foreign Military Sales (FMS) contract for additional new fire units of the Patriot Air and Missile Defense System for Taiwan.

Patriot is the world's most capable air and missile defense system, protecting against a full range of advanced threats, including aircraft, tactical ballistic missiles, cruise missiles and unmanned aerial vehicles. It is the system of choice for 12 nations around the globe.

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

Work under this contract will be performed at Raytheon's Integrated Air Defense Center, Andover, Mass.; El Paso, Texas; and Huntsville, Ala. The company is supported by a global team of suppliers to the Patriot system.