RAYTHEON AND SAUDI ARABIA IN STRATEGIC PARTNERSHIP

Saudi Arabia’s Military Industries Company has entered into a strategic partnership with Raytheon after an MoU was signed on the weekend. The ceremony took place in Riyadh and was witnessed by both the Saudi King Salman bin Abdulaziz Al Saud and the state guest US President Donald Trump. Under the terms of the deal, Raytheon will establish a wholly-owned subsidiary in the country, Raytheon Arabia, that will implement programmes to create indigenous defence, aerospace and security capabilities. Among subsidiary functions will be in-country programme management and development of supply and sourcing capabilities. Raytheon said it is expected that Raytheon Arabia activities will positively impact the economies of both countries and lead to job creation in both. They would also continue worldwide growth in the areas of air defence systems, smart munitions, C4I systems and defence system cyber security.