Congress Asked to Sell Torpedoes to Australian Military
The Defense Security Cooperation Agency notified Congress (link opens a PDF) Tuesday of plans to sell "up to" 100 MK 54 All-Up-Round Torpedoes to the government of Australia at a cost of $83 million.
The proposed sale, which includes the sale of 13 dummy ("exercise ") torpedo sections and their fuel tanks, five recoverable dummy torpedoes, and also support and test equipment, spare parts, technical data, training, and various support services, will be provided by principal contractor Raytheon .
Australia intends to deploy the torpedoes aboard Sikorsky MH-60R Seahawk helicopters that it now owns, and also aboard Boeing P-8A subhunting aircraft that it is in the process of ordering.
The DSCA justifies the sale by noting that "Australia is an important ally in the Western Pacific that contributes significantly to ensuring peace and stability in the region," further assuring Congress that "the proposed sale of this equipment and support will not alter the basic military balance in the region."
The article Congress Asked to Sell Torpedoes to Australian Military originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.