Raytheon Gets Approval For $1.7 Billion Saudi Missile Sale

Date : 11/30/2011 @ 11:53AM
Source : Dow Jones News
Stock : Raytheon Company (RTN)
Quote : 163.11  0.97 (0.60%) @ 4:02PM

Raytheon Gets Approval For $1.7 Billion Saudi Missile Sale

Raytheon (NYSE:RTN)
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Raytheon Co. (RTN) said Wednesday it won approval from the U.S. Congress and the State Department to upgrade Saudi Arabia's missile defense system for $1.7 billion.

The award includes ground-system hardware, a full training package, support equipment upgrades, and a capability upgrade to support potential coalition operations.

The Patriot missile system is used to shoot down missiles from aircraft as well as ballistic missiles.

-Christopher Hinton, 415-439-6400; AskNewswires@dowjones.com

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