2023-06-20 21:38:30
US defense contractor Raytheon Technologies has this week dropped its century-old name. The company has changed its name as part of a review of its corporate strategy.
this is what we know
The maker of the MIM-104 Patriot surface-to-air missile systems, Tomahawk cruise missiles and other weapons is now called RTX. Not to be confused with the new graphics cards from NVIDIA.
The rebranding comes three years following Raytheon merged with aerospace maker United Technologies Corp. to form Raytheon Technologies. Since then, the shares have been trading under the ticker RTX.
In the summer of 2022, the company announced that it would move its headquarters to Arlington, Virginia. Plans were announced this year to reorganize into three brands: Collins Aerospace, Pratt & Whitney and Raytheon.
The restructuring is necessary to better align the company’s activity with customer priorities, improve productivity and use resources more efficiently. The announcement was made in the spring by Christopher Calio, RTX COO.
Fuente: Defense News
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