Raytheon Awarded $38.5 M to Upgrade Patriot for South Korea

(Tewksbury, Mass., July 15, 2008) -- Raytheon Company (NYSE: RTN) has received a $38.5 million contract from COMLOG to upgrade Patriot missiles for South Korea.

COMLOG is a joint venture between Raytheon and the German missile company LFK, a member of the multi-national MBDA group. The contract follows the sale of Patriot systems from the German Ministry of Defense to South Korea's Air Force. Raytheon's work to upgrade the missiles under the contract will be performed at its Integrated Air Defense Center in Andover, Mass.

"The contract enables the upgrade of 64 Korean Patriot Advanced Capability-2 missiles to Guidance Enhanced Missile-Tactical, or GEM-T, configuration, providing enhanced capability against ballistic and cruise missiles, aircraft and remotely piloted vehicles," said Sanjay Kapoor, vice president of Patriot Programs for Raytheon Integrated Defense Systems. "This upgrade is designed to enhance system capabilities to meet current and emerging threats."

Source : Raytheon

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