Raytheon, the world's major manufacturer of missiles has announced that it has picked Greece based, Intracom Defense Electronics.

Under $55.7 million deal, Intracom Defense Electronics will manufacture subsystems for the latest version of the launchers of the Patriot air and missile defense systems for Raytheon.

The sources informed that the project, which will service the Patriot program in UAE, would be finalize within three and a half years and the work will be spread among Intracom and other Greek suppliers.

The sources further informed that in the past, both conglomerates have collaborated on similar projects, including the construction of Hawk air defense systems, the ESSM and the Phalanx close-in support system.

In the recent years, cooperation has also extended to other arenas of defense with Intracom signing $17 million pact with Raytheon in order to help manufacture self-protection systems for a block of F-16 warplanes.