Textron Wins Armored Vehicles, Helicopter Up-Armoring
Textron won a pair of new defense contracts from the Pentagon on Thursday, worth a combined $39.3 million.
The larger of the two awards, worth $31.6 million to the firm's Land and Marine Systems unit, came in the form of a firm-fixed-price, Foreign Military Sales (FMS) contract to supply COMMANDO Advanced Armored Personnel Carriers to the Columbian military. Based on Textron's M1117 Armored Security Vehicle, the COMMANDO is a four-wheeled armored vehicle similar to but more heavily armed than the U.S. military's "MRAP" armored trucks.
Textron's smaller contract win of the day went to its Bell Helicopter unit, which received a $7.7 million firm-fixed-price contract to fund the purchase of long lead materials needed for low-rate initial production of A-Kits (armor packages) that the Army has ordered to outfit its Kiowa OH-58F scout helicopters.
The article Textron Wins Armored Vehicles, Helicopter Up-Armoring originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Textron. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.