Textron Wins $105 Million Filipino Helicopter Contract

By Rich Smith – Mar 28, 2014 at 11:52PM

Canadian subsidiary will build eight unidentified helos for the Philippines' military.

The Canadian subsidiary of U.S. defense contractor Textron (TXT -1.79%) has won a contract to supply the Philippines' Department of National Defense with eight specialized helicopters, as was announced by Canada's Minister of International Trade the Honorable Ed Fast on Friday.

Negotiated by Canada's Canadian Commercial Corporation, this $105 million contract will see Bell Helicopter Textron Canada Ltd. deliver the helicopters during the next two years.

Textron Bell's products are popular with the Filipino DND, which operates a fleet of some 42 UH-1H "Huey" helicopters, plus several other models of Bell products, according to military aircraft researcher FlightGlobal Insight.

The specific type of helicopter being sold from Canada was not identified in the Minister's announcement, however.

Textron Bell UH-1H Huey helicopter. Photo: Wikimedia Commons.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Textron. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.