RTX & Rafael To Launch Missile Production Hub In Arkansas: Production Ramp-Up Scheduled For 2025

RTX Corporation RTX inked a joint venture pact with Rafael Advanced Defense Systems to build a manufacturing facility in East Camden, Arkansas.

The companies will produce the Tamir missile for the Iron Dome Weapon System and its U.S. variant, SkyHunter.

Under the deal, the companies have committed to a $33 million capital investment to establish the new facility. 

The joint venture plans to break ground on the new facility before the end of the year with the intent to begin missile production in 2025.

Once operational, the facility will produce missiles for the U.S. Marine Corps and other allied partners.

Raytheon and Rafael have teamed for over a decade on Iron Dome, which has more than 5,000 operational intercepts and a success rate exceeding 90%. 

RAFAEL is one of Israel's three largest defense companies, employing 8,000 people and numerous subcontractors and service suppliers, including in the U.S.

"This new facility will allow us to expand our presence in Camden and further benefit from the resident talent and expertise of this aerospace and defense epicenter," said Raytheon's Tom Laliberty, president of Land & Air Defense Systems and Raytheon-Rafael Area Protection Systems chairman of the board. 

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Price Action: RTX shares are trading higher by 0.21% to $79.32 on the last check Friday.