Boeing Wins $661 Million for Chinook Production, Aircraft Training Services
The Department of Defense announced 12 new defense contracts Thursday, worth $974.9 million combined. One single company -- Boeing -- captured more than two-thirds of the funding on offer, mainly by virtue of its winning the single biggest contract of the day.
This award, a $617.7 million contract modification, calls for Boeing to remanufacture 22 CH-47F Chinook helicopters, and build six more, for the U.S. Army. The contract modification also includes funding "long-lead" funding to acquire parts needed to remanufacture a further 13 Chinooks. These helicopters are expected to be delivered by December 31, 2020.
In other news, Boeing also won a new $43.2 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity partial-foreign military sales contract to provide engineering and technical field services training for U.S. Navy and Marine Corps military and civilian personnel -- and also Kuwaiti military personnel. The subject of the training will be on how to install, operate, and maintain equipment on AV-8B Harrier jumpjets, EA-18G electronic warfare aircraft, and F/A-18 fighter-bombers. Boeing's work on this contract will run through December 2018.
The article Boeing Wins $661 Million for Chinook Production, Aircraft Training Services originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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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