Sweden Set to Sign $1 Bn Patriot Missile Deal

STOCKHOLM --- Sweden will close a deal in the next few weeks with U.S. arms maker Raytheon Co to buy the Patriot air defense missile system as it modernizes its armed forces amid heightened tensions with Russia.

“We are now done negotiating with the U.S. about Patriot and will now ask the government’s permission to sign the contract,” said Joakim Lewin, head of the Army Design Office at the Swedish Materiel Administration (FMV), which procures and maintains equipment for the military.

The deal is initially worth around 10 billion crowns ($1.13 billion) and is the biggest military purchase since 2013 when Sweden started to [develop and procure 60 Saab Gripen-E] fighters, a deal worth around 47 billion crowns. (end of excerpt)

Click here for the full story, on the Reuters website.

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