Taiwan gives Raytheon a $154 million contract

Taiwan is paying $154 million to military contractor Raytheon Co. to upgrade the island nation's Patriot air and missile defense system.

The US Army Aviation and Missile Command, Redstone Arsenal, Ala., issued the contract that includes upgrade kits for radar and command and control components, a radar refurbishment and related engineering and technical services.

The new contract is in addition to two other awards Waltham-based Raytheon received last year for Taiwan Patriot support, one in March for upgrades and another in April for technical services.

Work under the latest contract will be performed in Andover, Mass.; Huntsville, Ala.; White Sands, N.M., and El Paso, Texas.

Raytheon shares rose 21 cents to $50.59 in midday trading. (AP)