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Boeing and Textron Win $351 Million Contract to Support V-22 Osprey Aircraft

The Department of Defense awarded 30 separate defense contracts Friday, worth a total of $1.99 billion. Boeing (NYSE: BA  ) won two of them -- one small and all Boeing's own, the other one much larger, but split with a partner.

The smaller award, worth $22.4 million to Boeing, took the form of a cost-plus-fixed-fee delivery order to supply the U.S. Navy with unspecified "supplies and services" needed to support follow-on test and evaluation of Navy F/-18E/F fighter-bombers and EA-18G electronic warfare aircraft. These deliveries are due to be completed in January 2015.

Boeing's larger award, worth $351 million, was the second biggest defense contract awarded Friday -- but will be split with Textron (NYSE: TXT  ) , Boeing's partner in the "Bell-Boeing Joint Project Office" joint venture that actually won the award. This contract modification instructs the joint venture to perform support work for the U.S. Navy under a contract for V-22 Joint Performance Based Logistics Support. The contract will remain in force through November 2016.


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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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6/30/2015 4:04 PM
BA $138.72 Down -0.01 -0.01%
The Boeing Company CAPS Rating: ****
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