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  • Thursday, November 21, 2024

Report: Poland Inks Offset Deals With Lockheed, Raytheon for Patriot Missile System


Poland has signed potential 10-year offset agreements with Raytheon (NYSE: RTN) and Lockheed Martin (NYSE: LMT) related to the European country™s planned procurement of the Patriot missile system, The Times of Israel reported Friday.

œThe offset agreements for the Wisla program are signed¦ This is the final step before signing the contract for the delivery of the Patriot system, Mariusz Blaszczak, Poland™s defense minister, said in a tweet.

The report said the offset deals with Lockheed™s global business and Raytheon are respectively worth $212 million and $65.3 million and the final contract for the Patriot system could be signed by Wednesday, March 28.

The State Department approved in November 2017 Poland™s request to buy the Patriot configuration 3+ system from the U.S. government under a potential $10.5 billion foreign military sales agreement.

Patriot is a mobile air defense platform that works to intercept cruise missiles, tactical ballistic missiles and aircraft.

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