FREISING, Germany, Sept. 22, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Germany's Lechmotoren, a company of the Jenoptik Group, signed a Letter of Intent to cooperate in mutually beneficial business opportunities related to Germany's air defense architecture, as well as significant exports to global markets.
The companies will examine opportunities in current international projects with Jenoptik state-of-the-art equipment. Jenoptik presented a prototype of their next generation technologies such as the new Jenoptik Patriot Hybrid Power Supply to Raytheon and Bavarian members of parliament, which initiated discussions about the significant fuel and maintenance cost reductions it would result in.
"We are very proud that this long-term partnership with Raytheon assures the ongoing success in serving international markets out of our Bavarian site," says Stefan Stenzel, executive vice president and head of Jenoptik Defense & Civil Systems division.
"Jenoptik is a reputable company and we look forward to establishing a long-term relationship with them on future opportunities related to the TVLS program, Global Patriot and beyond," said Doug Patrick, director of Integrated Air and Missile Defense Supply Chain, Raytheon Integrated Defense Systems.
With over 100 years of history and more than 800 employees in its German subsidiaries, joint ventures and cooperative programs, Raytheon is a firmly committed member of the German aerospace and defense industry. Examples include:
About Jenoptik As an integrated optoelectronics group, Jenoptik divides its activities into five divisions: Lasers & Material Processing, Optical Systems, Industrial Metrology, Traffic Solutions and Defense & Civil Systems. Its customers around the world mainly include companies in the semiconductor equipment manufacturing industry, automotive and automotive supplier industries, medical technology, security and defense technology as well as the aviation industry. In addition to several major sites in Germany Jenoptik is represented in about 80 countries worldwide and has major production sites abroad in the USA, France and Switzerland as well as shareholdings in Singapore, India, China, Korea, Japan, Australia and the Netherlands. JENOPTIK AG is listed on the Frankfurt Stock Exchange and included in the TecDax index. Jenoptik has approx. 3,430 employees and in 2013 generated sales of about 600 million euros.
About Raytheon Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
SOURCE Raytheon Company