WARSAW, Poland: The government of Poland signed an agreement to purchase Raytheon's (NYSE: RTN) combat proven Patriot from the U.S. Army. The agreement, formally referred to as a Letter of Offer and Acceptance, paves the way for Poland's Patriot force to rapidly reach Initial Operational Capability, and sets the stage for the U.S. government to begin contract negotiations with Raytheon and its industry partners.
"Poland joins the now 15 nation strong group of countries which trust Patriot to defend their citizens, military and sovereignty," said Wes Kremer, President of Raytheon Integrated Defense Systems. "Poland's procurement of Patriot strengthens Trans-Atlantic partnership and security by enabling a common approach to Integrated Air and Missile Defense, and creating jobs in the US and Poland."
Patriot is the backbone of NATO and Europe's defense against ballistic and cruise missiles, advanced aircraft and drones.
NATO Nations with Patriot: The US, Germany, Greece, the Netherlands, and Spain currently have Patriot. On Nov. 29th, Romania signed an LOA for Patriot, making it the 6th NATO member state to procure Patriot. Additionally, a Congressional notification regarding a potential Patriot sale to Sweden has been completed.
Patriot in Poland: Prior to signing the LOA, Poland agreed to an industrial-participation proposal offered by Raytheon and its industry partners. To facilitate Poland's self-sufficiency, which is required by Polish law, Raytheon will transfer technology to the extent permitted by US law and regulations.
This LOA is for Phase I of "WISLA," Poland's two-phase medium-range Integrated Air and Missile Defense procurement. Under Phase II, Poland has stated it intends to acquire additional Patriot fire units, Gallium-Nitride-based 360-degree Active Electronically Scanning Array Radar, and SkyCeptor, a low-cost interceptor missile.
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