General Electric Wins $138.3M in Military Engine Work
On Thursday, the U.S. Department of Defense announced it has awarded General Electric a $138.3 million firm-fixed-price contract "for the technical, engineering and logistical services in support of the T700 series turbine engines."
GE had previously won a $242 million contract from the Army in February 2012 to overhaul and upgrade T700 and T701D turbine engines. The T700 engine is used to power a number of aircraft in the U.S. Army's armory, including the Boeing Apache and Textron Bell SuperCobra attack helicopters, and also United Technologies' Sikorsky Black Hawk.
The Pentagon's announcement did not specify which of these helicopters GE's work relates to; but, in September 2012 , it awarded GE a perhaps-related contract to do $105.2 million worth of work repairing and replacing T700 engine components on "H-60" (Black Hawk) and "AH-1W" (SuperCobra) helicopters.
Shares of General Electric closed down 1.1% Thursday at $21.10, ahead of the Pentagon's announcement.
The article General Electric Wins $138.3M in Military Engine Work originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of General Electric Company and 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.
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