General Electric Wins $138.3M in Military Engine Work

On Thursday, the U.S. Department of Defense announced it has awarded General Electric (NYSE: GE  ) 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 (NYSE: BA  ) Apache and Textron (NYSE: TXT  ) Bell SuperCobra attack helicopters, and also United Technologies' (NYSE: UTX  ) 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.

 
 
 

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2178519, ~/Articles/ArticleHandler.aspx, 12/19/2014 7:13:16 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement