Canberra – 17 November 2011: Raytheon Australia has been awarded a four year extension for its Industry Development Unit under its Global Supply Chain arrangements with the Commonwealth of Australia.
The Unit operates collaboratively with the Defence Materiel Organisation (DMO) to promote the interests of Australian small to medium sized enterprises by identifying and facilitating business and export opportunities through the Raytheon global supply chain.
The extension was granted to Raytheon Australia with one year still remaining on the current arrangement established in 2009. This will ensure continuity of the Unit’s activities through to September 2016. The extension follows the company’s fourth major Program Management Review by the DMO since the Unit was set up two years ago.
The announcement coincides with the total value of contracts awarded to Australian SME’s with the assistance of the company’s Industry Development Unit now surpassing the $150 million mark.
Raytheon Australia’s Managing Director, Mr Michael Ward, welcomed the extension and paid tribute to the work of the company’s Industry Development Unit. “I cannot think of a better way to celebrate this four year extension than by announcing that we have now exceeded $150 million in contracts to Australian firms through our global supply chain activities. Raytheon Australia prides itself of being a trusted partner of Defence and this is further evidence that we have an equal trust in our small business partners.”
Mr Ward said the strength of Raytheon’s commitment to promoting Australian SME’s was evidenced by the fact that 29 contracts worth $154.5 million have been awarded to successful local companies over the past two years. He also indicated that 214 companies were now registered with Raytheon’s Industry Development Unit, with 68 companies actively engaged across 17 major program areas and 23 commodity technology areas in Raytheon.
Australian companies are now well integrated into Raytheon’s supply chain for programs as complex and diverse as the Patriot Air and Missile Defence System, the Evolved Sea Sparrow Missile, radar warning receivers for the F/A-18 aircraft, emergency services communications and biometrics products.
Mr Ward also paid tribute to the collaborative efforts of the DMO and indicated that the Industry Development Unit’s achievement represents a 54:1 return on the Commonwealth’s investment.