IDE signs new $63m contract with Raytheon

IDE (INTRACOM Defense Electronics), the leading defence electronics and communications systems manufacturer in Greece, extends its cooperation with Raytheon by signing a new contract worth $63.4m to manufacture subsystems for the PATRIOT air defence system.

Deliveries are scheduled to be completed in March 2018.

It is worth mentioning that, according to analytical records of IDE, during the last five years IDE has awarded more than 40% of the work of its signed contracts to other qualified Greek companies.

"In the current difficult financial situation we are contributing positively to the industrial production and to the employment in our country, and we are proud to cooperate with one of the largest companies worldwide in the defence area.

"Manufacturing capabilities, competitiveness and high-quality standards have made IDE a reliable partner in the long and successful international course of the PATRIOT programme," stated Mr. George Troullinos, CEO of IDE.