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General Electric Wins $138.3M in Military Engine Work

By Rich Smith – Jan 3, 2013 at 8:51PM

Will overhaul helicopter engines for the U.S. Army.

On Thursday, the U.S. Department of Defense announced it has awarded General Electric (GE +0.70%) 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 (BA +8.20%) Apache and Textron (TXT +0.15%) Bell SuperCobra attack helicopters, and also United Technologies' (UTX +0.33%) 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.

 
 
 

About the Author

Rich Smith
Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”
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