The U.S. Department of Defense has awarded a $946 million contract to arms company Raytheon Technologies (RTX) to supply Romania with additional Patriot air defense systems, The Defense Post reported Friday. The contract is set to expire on December 31, 2029. The military website notes that the deal will mark the third delivery of Patriot systems to Romania by the U.S., following previous purchases in 2017 and 2020. The new contract awarded by the Pentagon to Raytheon Technologies, one of the world’s largest arms companies, will cover firing units, which include advanced radars, control stations and interceptor missiles. In a statement sent to The Defense Post, RTX Vice President for Global Patriot Pete Bata emphasized that the new contract will allow the NATO country to better protect its citizens and critical infrastructure amid escalating threats in the region. He described Romania’s continued investment in the Patriot as a “testament to the nation’s dedication to ensuring collective security, deterrence, and stability across Europe.” “[RTX] is committed to providing Romania with advanced integrated air and missile defense capabilities,” he added. RTX said it will collaborate with local defense companies to ensure a seamless supply chain for the Romanian Patriots. Raytheon also said it will work with local arms companies to ensure an adequate supply chain for Patriot systems destined for Romania. “Patriot is the basis of air defense for 19 countries, and the system continues to demonstrate its effectiveness against advanced air threats and massive complex attacks,” Raytheon Technologies said. The announcement regarding the award of the contract was published on the website of the Department of Defense in Washington, which notes that the deadline for its completion is December 31, 2029. (Photo:https://www.rtx.com/raytheon/what-we-do/integrated-air-and-missile-defense/global-patriot-solutions)
Prime Batteries, the only local battery manufacturer and one of the few active in Europe, has established a joint venture with the South Korean company Top Material to produce active material, a key element in the production of batteries. The unit is in South Korea. Top Material is also a shareholder in Prime, with a […]
Franklin Templeton, the administrator of Fondul Proprietatea, has launched 16 Franklin Templeton Investment Funds (FTIF) on the iFonduri platform, expanding access to investment solutions for individual investors in Romania, according to Ziarul Financiar. The iFonduri platform, launched on Thursday, December...
Some companies in the BETPlus index are expected to deliver an average dividend yield of 3.6% in 2026, down from the 4.1% projected for a similar selection last year, according to an analysis by the TradeVille Analysis Department, Bursa.ro reported. The estimates are based...
The American company Critical Metals, which concluded an agreement with the Romanian state-owned company Nuclearelectrica for the partnership construction of a processing plant in Feldioara for the rare earths that the former extracts from Greenland, is actually controlled by the Romanian businessman Frank Timiș, who was, among other things, behind the Roșia Montană project, according […]
West Beton, part of West Group, produced and delivered, through its three production sites, more than 200,000 cubic meters of ready-mix concrete in 2025. Over 90% of total deliveries went to residential projects, including HILLS Nord, the third phase of Nusco City, and developments by companies such as Hagag or Pedro Construct. The rest of […]
The government has added four more companies to the list of the first 17 that entered the reform process and the analysis of the Interministerial Committee for Supporting the Implementation of Reform 9 (CNR9), led by deputy prime minister Oana Gheorghiu. These are CNCAF Minvest, Romaero, CNMPN Remin, and Avioane Craiova, companies from the portfolio […]
