Boeing Wins Contracts to Supply Drones, Apache Attack Helicopters

Rich Smith, The Motley Fool
Updated

Boeing secured three new contracts in the Department of Defense's latest issuance of defense contracting awards on Wednesday. Specifically, the aerospace giant won:

  • $11.8 million: in the form of an option exercise on a cost-plus-incentive-fee contract previously awarded to its Insitu drone-building subsidiary. The option provides for Insitu to supply one Low Rate Initial Production land-based, small tactical unmanned aircraft system, plus associated testing and logistical support. The new drone will be delivered to the U.S. Navy by May 2014.

  • $14.3 million: an add-on to a previously awarded firm-fixed-price, foreign military sales contract to supply Apache Block III aircraft and associated parts and services to the government of Saudi Arabia.

  • a significantly larger $69.2 million award modifying a related foreign-military-sales contract -- again for the supply of Apaches and associated parts and services to the Saudis.

The article Boeing Wins Contracts to Supply Drones, Apache Attack Helicopters originally appeared on Fool.com.

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