BRUSSELS (dpa-AFX) - Aerospace and defense company, RTX Corporation (RTX), Wednesday said COMLOG has secured its first contract from the NATO Support and Procurement Agency or NSPA for up to 1,000 Patriot GEM-T missiles for a total value of approximately $5.6 billion.
COMLOG is a joint venture between RTX's subsidiary Raytheon and MBDA. It will expand its production facilities in Europe in order to complete the delivery.
The contract under European Sky Shield Initiative or ESSI supports a group of nations including Germany, the Netherlands, Romania and Spain.
The company said that the contract will strengthen industrial and military capabilities in Europe.
Currently, RTX's stock is climbing 1.44%, to $86.46 on the New York Stock Exchange.
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