Textron Unit Wins Army Copter Contract
Textron Inc.’s Bell Helicopter unit was chosen by the Army to build 368 armed reconnaissance helicopters in a contract the company valued at $2.2 billion.
The craft, based on Bell’s 407 helicopter, will replace the OH-58D Kiowa Warriors, which were also produced by Bell.
Fort Worth-based Bell beat out a rival team led by Boeing Co. for the work, which will start with an initial development contract worth $210.7 million. Textron said Bell would deliver the new aircraft through 2013.
Shares of Textron fell 94 cents to $74.17 ahead of the announcement, and Boeing’s shares rose 1 cent to $66.01.
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