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Business/Financial

Raytheon Gains $14.7 Million Patriot Depot Maintenance Contract Change

DDN

Monday, June 8th, 2009

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The Army gave Raytheon Co. [RTN] a $14.7 million contract change for depot-level maintenance for Patriot air and missile defense systems. The Aviation and Missile Command at Redstone Arsenal, Ala., provided the additional funding under a contract previously awarded to Raytheon in June 2006. This is the fourth option, bringing the value of the sole-source contract to $51.9 million. Services under this contract include diagnostics, maintenance, repairs, modifications and technical assistance at a level higher than Patriot units are able…

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