Congress Asked to Approve $2.4 Billion Iraqi Arms Sale
The Defense Security Cooperation Agency notified Congress (link opens a PDF) Monday of plans to sell a massive amount of arms to the government of Iraq -- a sale valued in excess of $2.4 billion.
The transaction in question promises to generate hundreds of millions of dollars in sales for each of principal contractors: Boeing , Kratos Defense & Security , Lockheed Martin , Northrop Grumman , Raytheon , privately held American General, and France's Thales, and involves the sale of:
- 681 Stinger anti-aircraft missiles, and 40 Avenger Fire Units to launch them.
- 216 MIM-23P HAWK Tactical Missiles, and three HAWK XXI mobile surface-to-air missile batteries, consisting of six Fire Units, to launch them.
- Three HAWK XXI BOC Air Defense Consoles.
- 13 AN/MPQ-64F1 Sentinel Radar systems.
- Seven AN/YSQ-184D Forward Area Air Defense Command, Control, and Intelligence Systems.
- 75 AN/VRC-92E SINCGARS Radios.
- Two Mobile Battalion Operation Centers.
And much, much more.
Collectively characterized as "an Integrated Air Defense System," the equipment in question is described as necessary to "help the Government of Iraq to modernize its armed forces ... provide the Iraqi Air Defense Command situational awareness of the country's airspace and a baseline tactical radar and threat intercept capability ... and reduce its vulnerability to air attacks and also enhance interoperability between the Government of Iraq, the U.S., and other allies."
The DSCA assures Congress that "there will be no adverse impact on U.S. defense readiness as a result of this proposed sale."
The article Congress Asked to Approve $2.4 Billion Iraqi Arms Sale originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin, Northrop Grumman, and Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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