Textron scrapped its plans to sell Bell Helicopter.
The company cited the Army’s cutting in half its monthly payments because of allegations of false billing by Bell for its change in plans. Last week, the Army announced plans to cut monthly contract payments to the Fort Worth-based helicopter manufacturer and launch a special probe. The Army’s decision reduced to $6.5 million from about $13 million the monthly payments that Bell receives for contracts covering Army helicopter programs.
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