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Raytheon gets $1.1b Taiwan contract

Bloomberg News / December 24, 2009

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Raytheon Co., the world’s largest missile maker, has won contracts totaling $1.1 billion to produce the Patriot Air and Missile Defense System for Taiwan.

The awards include an initial contract for ground-system hardware valued at $965.6 million and an initial order for spare parts valued at $134.4 million, Waltham-based Raytheon said yesterday.

The US Defense Department in October 2008 proposed making $6.46 billion worth of weapons sales to Taiwan, including the most advanced Patriot antimissile system. Taiwan received $18.3 billion in US arms under the Foreign Military Sales program from 1950 to 2006.

Raytheon had 2008 sales of about $23.2 billion.