Pentagon Awards Bell/Boeing $73 Million for V-22 Osprey Work

On Monday, the Department of Defense awarded the Bell/Boeing Joint Program Office -- a joint venture between aerospace firms Boeing (NYSE: BA  ) and the Bell Helicopter division of Textron (NYSE: TXT  ) -- a $73 million contract to repair 142 separate components on V-22 tiltrotor aircraft built by the joint venture. 

The V-22, also known as the Osprey, is the first tiltrotor aircraft capable of taking off vertically like a helicopter, then transitioning to prop-driven forward movement like an airplane. It thus marries the flexibility of a helicopter to operate in rough terrain, with the speed and greater flying range of an airplane. It is twice as fast as an ordinary helicopter, according to Boeing, and with a "much longer" range.

The Pentagon's award to Bell/Boeing hires the joint venture to perform  required repairs on the U.S. Navy's fleet of Ospreys through September 2015. Specific payments will be made as task orders are requested.

link


Read/Post Comments (1) | Recommend This Article (2)

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.

Add your comment.

DocumentId: 2307678, ~/Articles/ArticleHandler.aspx, 4/19/2014 3:09:33 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...

Today's Market

updated 1 day ago Sponsored by:
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASD 4,095.52 0.00 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

4/17/2014 4:01 PM
BA $127.92 Up +1.88 +1.49%
The Boeing Company CAPS Rating: ***
TXT $39.54 Up +0.65 +1.67%
Textron, Inc. CAPS Rating: ***

Advertisement