Congress Asked to Approve Sale of AMRAAM Missiles to Norway

The U.S. Defense Security Cooperation Agency, or DSCA, notified Congress Wednesday of plans to sell the government of Norway a lot of AIM-120C-7 Advanced Medium Range Air-to-Air Missiles, or AMRAAMs, plus associated equipment and parts, training and logistical support for use aboard fighter jets of the Royal Norwegian Air Force, or RNAF. Assuming the sale is allowed to proceed, it would mean $80 million in revenues for Raytheon Corporation (NYSE: RTN  ) , principal contractor on the sale.

Specifically, the RNAF is asking to purchase 36 AIM-120C-7 AMRAAMs and eight Captive Air Training Missiles -- dummy missiles used in training exercises. Also on order will be containers, support equipment, spare parts, and Common Munitions Bit/Reprogramming Equipment to be used on the weapons.

Explaining the sale to Congress, DSCA noted that Norway intends to use the weapons "for mutual defense, regional security, force modernization, and U.S. and NATO interoperability."

According to DSCA, "there will be no adverse impact on U.S. defense readiness as a result of this proposed sale." Nor will the sale "alter the basic military balance in the region." 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2856316, ~/Articles/ArticleHandler.aspx, 7/31/2014 6:40:53 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement