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Fri 28 Jan 2011 02:00 PM

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Raytheon signs $145m Kuwait missile deal

US firm will make Patriot missiles for Gulf state in latest military deal for the region

Raytheon signs $145m Kuwait missile deal
MISSILE PACT: Raytheon, which will make Patriot missiles for Kuwait, is already working on a radar system upgrade

US defence giant Raytheon Co will make Patriot missiles for Kuwait’s air and missile defense systems under a new $145m contract.

Raytheon received the contract from US Army Aviation and Missile Command. The company is already working on a radar system upgrade for Kuwait.

The company in November revealed its part of a $60bn US-Saudi arms package – the largest single deal of its kind in US history – amounts to a potential $4bn.

Kevin Massengill, Raytheon’s vice president and regional executive MENA, said the Middle East’s current defence spending boom was likely to continue.

“We have a number of things that we’re pursuing, not just for Saudi Arabia but for whole region,” he said.

“The Middle East with its hydrocarbon wealth and fairly existential threats will lead the league along with Asia. Those countries will boom in spending.”