New Zealand Describes Defense Goals for 2013-2016

The New Zealand Ministry of Defence only just finished awarding a $120-million contract to buy 10 SH-2G(I) Super Seasprite anti-submarine/anti-surface warfare helicopters from Kaman Corporation (NYSE: KAMN  ) a week ago, but already the MoD is busy planning out its next series of acquisitions.

On Thursday, the MoD published its Statement of Intent describing the island nation's key defense objectives over the next three years. Among other subjects, the MoD described it will be upgrading combat systems aboard New Zealand's ANZAC-class frigates, and introducing upgraded Lockheed Martin (NYSE: LMT  ) C130 Hercules transport aircraft and P-3 Orion surveillance aircraft, and NH90 medium utility helicopters (built by  Eurocopter joint venture NH Industries), into service.

The Statement also envisions the MoD making other unspecified "new acquisitions and upgrades" over the next three years, within its annual budget of "around $2.3 billion" -- roughly $1.9 billion in U.S. Dollars.


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: 2439374, ~/Articles/ArticleHandler.aspx, 8/23/2014 1:35:29 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