May 4 (SeeNews) - Romanian state-owned military equipment supplier Romarm and its subsidiary Electromecanica Ploiesti have signed a memorandum with U.S.-based defence contractor Raytheon Missiles & Defense to start manufacturing SkyCeptor interceptor missiles for Patriot air defense systems, the economy ministry said.
The missiles will be manufactured at Romarm's plant in Ploiesti and will be delivered to the domestic and foreign markets, economy minister Florin Spataru said during the signing ceremony which was live-streamed on the institution's social media page.
"There are a few more steps we need to take so that production can start as soon as possible. Production also means investments from the Romanian side and I assured Electromecanica and Romarm that the economy ministry is determined to allocate funds for this, so that Romania can position itself as a stable, reliable supplier in this field both nationally and at European level," Spataru added.
A variant of the Stunner hit-to-kill missile, the SkyCeptor interceptor is developed to defeat short- to medium-range ballistic and cruise missiles and other advanced air defense threats, according to information posted on Raytheon's website.
"Romanian defense industry has all the possibilities and resources to revive itself and become an important part of the national economy," defence minister Vasile Dincu said during the event.
In September 2020, Romania received the first Patriot surface-to-air missile (SAM) system from Raytheon, and is expecting three more by the end of 2022. In October 2020, Romanian aerospace company Romaero became a global supplier of components for the Patriot air and missile defence system manufactured by Raytheon Technologies.
Raytheon Missiles & Defense is one of four business segments of Raytheon Technologies. Headquartered in Tucson, Arizona, the division produces a broad portfolio of advanced technologies, including air and missile defense systems, precision weapons, radars, and command and control systems.
Electromecanica Ploiesti was established in 1955 as a repair, armament and anti-aircraft artillery workshop and is now focused on armored, genius and artillery rocket technology. Since 2001, it is a subsidiary of Romarm.
Founded in 2000, Romarm supplies military equipment, ammunition, as well as a range of maintenance services in Romania. In April, the economy ministry said that Romarm expects a 133% increase in its profit to some 700,000 lei ($153,130/141,670 euro) this year, and revenues of over 287 million lei, double compared to the previous year.
(1 euro=4.9471 lei)