News Review: Raytheon counts IDU first-year achievements | ADM Dec 2010/Jan 2011

Over the course of 2010, Raytheon’s Industry Development Unit (IDU) has identified numerous potential opportunities for Australian firms in the Raytheon global supply chain, mentored Australian industry on the US defence market and provided advice to help guide local firms through the maze of US defence regulatory process, the company says.

Raytheon Australia’s managing director, Michael Ward, in November praised the unit’s work saying it has demonstrated the company’s commitment to Australian SMEs.

He pointed to the IDU’s key achievements after its first year of operation, including:

• 13 contracts awarded to the value of more than $50 million;

• 195 companies who have registered interest with the IDU;

• 53 companies actively engaged across five Raytheon Company US business units;

• 16 major Raytheon Company programs and 23 key commodity/technology areas being pursued; and

• 67 companies engaged in IDU mentoring and training activities.

Indicating that these results reflected favourably upon Raytheon Australia, Ward also credited the Australian Government for its direction in this policy area and the DMO’s industry division for its willingness to partner with the defence industry to bring about such strong outcomes.