RTX, Rafael to build missile production facility in Camden, Arkansas

Rhea-AI Summary

Raytheon and Rafael Advanced Defense Systems are partnering to build a $33 million manufacturing facility in East Camden, Arkansas to produce the Tamir missile for the Iron Dome Weapon System and its U.S. variant, SkyHunter. The facility will produce missiles for the U.S. Marine Corps and other allied partners, and is expected to begin production in 2025.

Positive

• Raytheon and Rafael's new manufacturing facility in Arkansas will support the production of the Tamir missile for the Iron Dome Weapon System and SkyHunter. This will expand Raytheon's presence in Camden and benefit from the aerospace and defense expertise in the area. The facility will produce missiles for the U.S. Marine Corps and other allied partners, contributing to future revenue growth.

Negative

• None.

EAST CAMDEN, Ark., Oct. 26, 2023 /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, in partnership with Rafael Advanced Defense Systems, will build a manufacturing facility in East Camden, Arkansas to produce the Tamir missile for the Iron Dome Weapon System and its U.S. variant, SkyHunter^®.

Through the established Raytheon-Rafael Area Protection Systems joint venture, the companies have committed to a $33 million capital investment to establish the new facility. Once operational, the facility will produce missiles for the U.S. Marine Corps and other allied partners.

"This new Camden site will be the first all-up-round production facility in the U.S. to help support the Armed Forces and allies across the globe with this highly capable air-defense missile," said Raytheon's Tom Laliberty, president of Land & Air Defense Systems and Raytheon-Rafael Area Protection Systems chairman of the board. "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."

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%. The U.S. version of the Iron Dome Weapon System's Tamir, SkyHunter, is a medium-range air defense weapon designed to counter a range of threats, including cruise missiles, manned and unmanned aircraft, rockets, artillery and mortars. SkyHunter missiles will be produced for the U.S. Marine Corps Medium Range Intercept Capability, or MRIC, program.

"Arkansas is proud to be a leader in aerospace and defense, helping to safeguard the freedom and security of the United States and its allies around the world," said Clint O'Neal, executive director of the Arkansas Economic Development Commission. "East Camden offers an experienced workforce for Raytheon and Rafael Advanced Defense Systems' new venture, and we look forward to the community's and the companies' success."

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.

About RTX
RTX is the world's largest aerospace and defense company. With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2022 sales of $67 billion, is headquartered in Arlington, Virginia.

About Rafael 
RAFAEL Advanced Defense Systems Ltd. designs, develops, manufactures and supplies a wide range of high-tech defense systems for air, land, sea, and space applications for the Israel Defense Forces and the Israeli defense establishment, as well as for customers around the world. The company offers its customers a diversified array of innovative solutions at the leading edge of global technology, from underwater systems through naval, ground, and air superiority systems to space systems. RAFAEL is one of Israel's three largest defense companies, employing 8000 people and numerous subcontractors and service suppliers, including in the United States.

About Arkansas Economic Development Commission
At AEDC, we know economic advancement doesn't happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. For more information, visit ArkansasEDC.com.

For questions, please contact:
Kate Goulding
kate.w.goulding@rtx.com

 

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SOURCE RTX

FAQ

What is the purpose of the new manufacturing facility in Arkansas?

The purpose of the new manufacturing facility is to produce the Tamir missile for the Iron Dome Weapon System and SkyHunter. It will support the U.S. Marine Corps and other allied partners.

When will the missile production begin?

The missile production is expected to begin in 2025.

How much is the capital investment for the new facility?

The capital investment for the new facility is $33 million.

What is the success rate of the Iron Dome Weapon System?

The Iron Dome Weapon System has a success rate exceeding 90% with over 5,000 operational intercepts.

Who are the partners in the joint venture?

The partners in the joint venture are Raytheon and Rafael Advanced Defense Systems.