Aerial security

Raytheon commits to Israeli reciprocal procurements

US arms manufacturer Raytheon (NYSE: RTN) will make $9.5 million in reciprocal procurement in Israel over the next five years. The agreement was signed yesterday in the US by senior company officials and Ministry of Economy and Industry Division for Foreign Investment and Industrial Cooperation director Ziva Eger.

The agreement was sparked by cooperation between Raytheon andRafael Advanced Defense Systems Ltd. in the development and production of the new David's Sling defense system against rockets and missiles. The two companies have equal shares in the venture: Rafael makes the interceptor missile for the system, while Raytheon produces the launchers, chassis, and other accessories for it.