RTX & Rafael To Launch Missile Production Hub In Arkansas: Production Ramp-Up Scheduled For 2025
Portfolio Pulse from Nabaparna Bhattacharya
RTX Corporation (NYSE:RTX) and Rafael Advanced Defense Systems have agreed to a joint venture to build a missile manufacturing facility in East Camden, Arkansas. The facility, which will produce the Tamir missile for the Iron Dome Weapon System and its U.S. variant, SkyHunter, is expected to begin production in 2025. The companies have committed to a $33 million capital investment for the new facility. RTX shares are trading higher by 0.21% to $79.32.
October 27, 2023 | 2:37 pm
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RTX Corporation has entered into a joint venture with Rafael Advanced Defense Systems to build a missile manufacturing facility. This could potentially increase RTX's revenue in the long term.
The joint venture between RTX and Rafael Advanced Defense Systems to build a missile manufacturing facility represents a significant investment and potential source of future revenue for RTX. This news is likely to be viewed positively by investors, hence the increase in RTX's stock price.
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