Final hours! Save up to 55% OFF InvestingProCLAIM SALE

US approves $15 billion in Patriot and missile defense upgrades for Poland

Published 06/28/2023, 04:09 PM
Updated 06/28/2023, 04:31 PM
© Reuters.
LMT
-
RTN
-

WASHINGTON (Reuters) - The U.S. State Department has approved a possible $15 billion sale of an Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS) and related equipment to Poland as it upgrades its air defenses, the Pentagon said on Wednesday.

Despite State Department approval, the notification did not indicate that a contract had been signed or that negotiations had concluded.

European interest in U.S. weaponry has increased with demand centered around such supplies as munitions, air defenses, communications equipment, shoulder-fired Javelin missiles and drones which have proven critical to Ukraine's war efforts.

The package would include 48 Patriot launch stations and 644 Patriot Advanced Capability (PAC) 3 Missile Segment Enhanced (MSE) interceptor missiles, network links, sensors, support equipment, spares and technical support, the Pentagon said.

The Pentagon's Defense Security Cooperation Agency notified Congress of the possible sale on Wednesday.

The Pentagon said Raytheon (NYSE:RTN) Corp and Lockheed Martin (NYSE:LMT) were the prime contractor for the weapons.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.