US Purchases More Stingers Following Missiles' Success In Ukraine: Reuters

May 27, 2022 3:21 PM | 1 min read |

The U.S. Army has awarded Raytheon Technologies Corp RTX a contract for up to $687 million for anti-aircraft Stinger missiles to replenish stocks deployed to Ukraine, reported Reuters.
Raytheon's shoulder-fired anti-aircraft Stinger missiles were in high demand in Ukraine.
Since February, the U.S. has shipped approximately 1,400 Stingers to Ukraine, the report speified. U.S. allies also want to restock the weaponry that has been supplied to Ukraine in recent months.
The report noted that the contract was for up to 1,468 Stingers. There was no set completion date for the work, but delivery could take 30 months.
Price Action: RTX shares are trading higher by 1.54% at $96.46 on the last check Friday.
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