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© tamas ambrits dreamstime.com Business | May 22, 2017

Raytheon sign strategic partnership in Saudia Arabia

Raytheon Company and the Saudi Arabia Military Industries Company signed a Memorandum of Understanding to cooperate on defense-related projects and technology development.
The agreement will enable global growth for Raytheon in key market areas such as Air Defense Systems, Smart Munitions, C4I Systems and Cyber Security of Defense Systems and Platforms.

"This strategic partnership is the next step in our over 50-year relationship in the Kingdom of Saudi Arabia and a strong indicator of our continued global growth," said Thomas A. Kennedy, Raytheon Chairman and CEO. "By working together, we can help build world-class defense and cyber capabilities in the Kingdom of Saudi Arabia."

As part of this new agreement, Raytheon plans to establish Raytheon Arabia, a Saudi legal entity wholly-owned by Raytheon. The new company will be based in Riyadh and is expected to include in-country program management, supply and sourcing capabilities.

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September 15 2017 9:25 AM V8.7.1-2