Congress Asked to Approve $200 Million Missile Sale to India

The U.S. Defense Security Cooperation Agency notified Congress Tuesday of plans to sell a package of UGM-84L Harpoon missiles, plus associated equipment, parts, training, and logistical support, to the government of India. If approved by Congress, this sale would generate an estimated $200 million in new revenue for principal contractors Boeing (NYSE: BA  ) and privately held Delex Systems.

Live-fire exercise with Harpoon missiles aboard the British Royal Navy frigate HMS Richmond (F-239) in the Atlantic. Photo: Wikimedia Commons.

Specifically, India intends to purchase for its navy:

  • 12 UGM-84L Harpoon Block II Encapsulated missiles.
  • 10 UTM-84L Harpoon Encapsulated training missiles.
  • Two Encapsulated Harpoon certification training vehicles.
  • Containers for the missiles, spare parts, support and test equipment, and related services.

DSCA advised Congress that the Indian Navy intends to equip its four Shishumar-class diesel-electric submarines (variants of the German Type-209 boat) with the missiles. The agency also said India already uses Harpoon missiles aboard its Indian Air Force Jaguar fighter aircraft and Indian Navy P-8I maritime patrol aircraft.

DSCA assured Congress that this sale "will not alter the basic military balance in the region" and will result in "no adverse impact on U.S. defense readiness." 

Leaked: Apple's next smart device (warning, it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. And there's one small company making Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!

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: 3017675, ~/Articles/ArticleHandler.aspx, 9/3/2015 3:40:46 PM

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...

Rich Smith

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.

Today's Market

updated Moments ago Sponsored by:
DOW 16,359.63 8.25 0.05%
S&P 500 1,950.55 1.69 0.09%
NASD 4,739.35 -10.63 -0.22%

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

9/3/2015 3:25 PM
BA $130.95 Up +0.32 +0.24%
The Boeing Company CAPS Rating: ****