RIYADH, 7 April 2006 — The US defense company Raytheon Integrated Defense Systems’ subsidiary, Saudi Offset Limited Partnership (SOLP), has received a top Middle East award for innovative entrepreneurship.
SOLP was honored for its efforts in collaborating with the Saudi government in the introduction of shrimp aquaculture technologies in the Kingdom along with related training and education component, Raytheon announced in a message.
It said the Middle East and Northern Africa (MENA) Investment Program and Organization of Economic Cooperation and Development (OECD) presented the MENA-OECD Investor of the Year Award in the Innovative Entrepreneurship category to members of Raytheon Integrated Defense Systems’s (IDS) Saudi Offset Limited Partnership (SOLP). “We’re very proud of our being recognized for work that highlights the close relationship we have with our customers in the MENA region,” said Skip Garrett, vice president, Raytheon IDS International Operations business area. “Raytheon is committed to our customers and our offset obligations, and we work closely with our partners worldwide to develop innovative and creative offset program solutions to help countries with permanent economic development and job growth.”
Speaking to Arab News, US Ambassador James C. Oberwetter said: “Raytheon has been in Saudi Arabia continuously since 1966, and has demonstrated its commitment to Saudi Arabia and the region for over 40 years. I am confident that they will approach their investment in this project with the same high standard of excellence that has made them one of the Kingdom’s long-term partners in defense and security.”
Commercial Counselor at the US Embassy Nancy K. Charles-Parker said: “Raytheon is one of the quality US companies responsible for the two-way trade increase of 30 percent in the last year.”