Raytheon Co (RTN.N) expects Qatar and the U.S. government to complete a long-awaited multibillion-dollar agreement on a “significant” number of Patriot missile defense systems before year end, a senior company official told Reuters on Tuesday.
Tim Glaeser, vice president with Raytheon’s integrated defense systems business, gave no exact details on the cost and number of Patriot batteries involved, but said he expected the two sides to reach a deal within the next four to eight weeks.
Former Raytheon Chief Executive Bill Swanson had told analysts in January that he expected Qatar to finalize an order worth over $2 billion in the first half of 2014. But foreign military sales often take longer than expected to close. […]