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Friday, February 23, 2007

Raytheon Scores USAF Deal

The U.S. Air Force said Thursday it awarded a $70.4 million contract to Raytheon for 60 multi-use sensor systems for the MQ-1 Predator, a medium-altitude, remotely piloted aircraft, and the MQ-9 Reaper, another unmanned plane. Raytheon said it will complete the work by August 2008. Separately, EU officials cleared Raytheon to sell its aircraft business to a company owned by Goldman Sachs and Onex Partners. The European Commission cleared the deal this week after identifying no antitrust problems and receiving no complaints from rivals within a deadline of 25 working days. Raytheon announced in December it will sell the unit to Hawker Beechcraft Corp. for $3.3 billion. For related news