|Raytheon awarded $149 million contract by Rafael for Iron Dome interceptor components|
TUCSON, Ariz., Sept. 30, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received a contract award from Rafael Advanced Defense Systems Ltd. valued at $149.3 million to provide products for the Tamir interceptor used in the defensive Iron Dome Weapon System.
Raytheon will utilize its extensive technology resources and supplier network to provide a second source of supply for essential Iron Dome interceptor components. With more than 1,000 successful intercepts, Tamir is the only combat proven counter rocket, artillery, and mortar interceptor available for U.S. and coalition partners today.
"Iron Dome has proven itself time and again by protecting Israel's population from incoming rockets, artillery and mortars," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president. "The sourcing of Tamir interceptor components in the U.S. will go a long way to ensuring sufficient volumes of available Tamir missiles for Israel's defense."
The award builds upon a co-marketing agreement the two companies have had in place for Iron Dome since 2011.
"The partnership between the Missile Defense Agency and the Israeli Missile Defense Organization has been extraordinary," said DiDi Yaari, chief executive officer of Rafael Advanced Defense Systems. "We're very appreciative of the U.S.'s support for this life-saving system. Maintaining Iron Dome's supply gives Israelis great peace of mind."
SOURCE Raytheon Company