Raytheon Technologies’ (NYSE: RTX) missiles and defense business and Lockheed Martin (NYSE: LMT) will serve as principal contractors for a potential $380 million foreign military sale of FIM-92K Stinger man-portable ground-to-air missiles and related equipment to the government of Finland.
The Defense Security Cooperation Agency said Thursday the State Department cleared the proposed FMS transaction that also includes production verification flight test Stinger missiles, support equipment, engineering and technical services, production support, transportation assistance, program and logistics support.
Finland will use the equipment to boost its national stockpile and enhance its deterrence and defense capabilities, particularly in strengthening its ground and air defense in Europe’s northern flank in support of U.S. European Command’s priorities.
DSCA said it notified Congress of the potential transaction Thursday.
