January 3, 2013
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.
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