Raytheon receives $236M contract from U.S. Army

Raytheon (NYSE:RTN) has received a $236M contract from the U.S. Army to upgrade the Patriot Air and Missile Defense System for the U.S. and two partner nations.

Upgrades will be made to the capabilities and reliability of the missile and will reduce the number of battery replacements from 759 to 56, providing a decrease in costs.

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