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Raytheon Company Lands $1.28 Billion Foreign Arms Sale

By Rich Smith - Jan 23, 2014 at 9:42PM

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National Advanced Surface-to-Air Missile System is the same air defense system that protects Washington, D.C.

Raytheon (RTN) has agreed to sell the Sultanate of Oman a ground-based air defense system worth $1.28 billion, the company announced Thursday.

The National Advanced Surface-to-Air Missile System (NASAMS), which Raytheon describes as "a highly adaptable mid-range... state-of-the-art defense system" equally capable of shooting down hostile aircraft, unmanned aerial vehicles, and missiles, is the same system that protects Washington, D.C. from air attacks. Finland, Norway, The Netherlands, Spain, and a fifth country (which prefers not to publicize its possession of the system), also use NASAMS for their national defense.

In addition to NASAMS per se, Raytheon says it is also providing Oman ground support equipment, a full training package, and technical assistance necessary to operate the system. 

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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