Raytheon Gets $655 Million Missile Deal With Kuwait
February 28 2014 - 06:40PM
Dow Jones News
By Doug Cameron
Raytheon Co. has secured a $655 million deal to supply Kuwait
with two more Patriot missile-defense systems, the Pentagon said
Friday.
Kuwait, Saudi Arabia and the United Arab Emirates already
operate the Patriot, and Raytheon was last month awarded a $1.2
billion deal to supply Oman with the system.
The company had hoped to wrap up about $4 billion in
missile-defense deals in the region by year end, though finalizing
the deals--which take place at a government-to-government
level--has taken longer. It still hopes to sell the system to
Qatar.
Raytheon leads U.S. prime contractors in expanding foreign
business, and international sales rose 3% last year, boosting the
proportion of total revenue coming from overseas to 27%.
Write to Doug Cameron at doug.cameron@wsj.com
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