Matt Molnar
2008-03-29, 12:56 AM
Bloomberg:
Boeing, Textron Get $10.4 Billion V-22 Aircraft Award (http://www.bloomberg.com/apps/news?pid=20601087&sid=afskwf3bbBWA&refer=home)
By Tony Capaccio
March 28 (Bloomberg) -- Boeing Co. and Textron Inc. received a $10.4 billion contract for the V-22 Osprey that ensures production of 167 more of the aircraft through 2012, the Pentagon said today.
The multiyear contract will save as much as $427 million over annual contracts to manufacture the tilt-rotor plane, the Pentagon estimated. The contract calls for building 141 of the planes for the Marine Corps and 26 for the Air Force, a Pentagon news release said. The Defense Department had 132 aircraft on order before today's contract announcement.
``This is good for a variety of reasons, stability of the production line for an aircraft we know we need and stability for jobs,'' said Representative Joe Sestak, a Pennsylvania Democrat. It also has a cost savings and ``heaven knows, we need that,'' said Sestak, who represents a district where Boeing builds its part of the aircraft. [Full Article (http://www.bloomberg.com/apps/news?pid=20601087&sid=afskwf3bbBWA&refer=home)]
Boeing, Textron Get $10.4 Billion V-22 Aircraft Award (http://www.bloomberg.com/apps/news?pid=20601087&sid=afskwf3bbBWA&refer=home)
By Tony Capaccio
March 28 (Bloomberg) -- Boeing Co. and Textron Inc. received a $10.4 billion contract for the V-22 Osprey that ensures production of 167 more of the aircraft through 2012, the Pentagon said today.
The multiyear contract will save as much as $427 million over annual contracts to manufacture the tilt-rotor plane, the Pentagon estimated. The contract calls for building 141 of the planes for the Marine Corps and 26 for the Air Force, a Pentagon news release said. The Defense Department had 132 aircraft on order before today's contract announcement.
``This is good for a variety of reasons, stability of the production line for an aircraft we know we need and stability for jobs,'' said Representative Joe Sestak, a Pennsylvania Democrat. It also has a cost savings and ``heaven knows, we need that,'' said Sestak, who represents a district where Boeing builds its part of the aircraft. [Full Article (http://www.bloomberg.com/apps/news?pid=20601087&sid=afskwf3bbBWA&refer=home)]