New Orleans, LA - January 14, 2008 - Textron Marine & Land Systems (TM&LS), an operating unit of Textron Systems, a Textron Inc. (NYSE: TXT) company, has signed a contract to sell seven (7) M1117 Armored Security Vehicles to the Bulgarian Ministry of Defense. The contract, valued at approximately $10.2 million USD, includes the anticipated delivery of the vehicles in the first quarter of 2008.
"We are happy to offer the safety, efficiency and reliability of the ASV to Bulgaria and its effort to support peace operations in Afghanistan," said Textron Marine & Land Systems General Manager Tom Walmsley. "We will be shipping these ASVs as soon as we complete the United States export requirements that are well underway. Six of the seven will be going directly to the Bulgarian troops in Afghanistan through the Ministry of Defense."
The contract with Bulgaria includes two years of technical support on the vehicles, as well as a framework contract which allows the Ministry of Defense to purchase additional ASVs in the M1117 base configuration, or variants with modifications needed to carry out various missions.
About the ASV
The ASV is a 4X4 wheeled armored vehicle that offers significant crew protection through the employment of multiple layers of armor, providing defense against small arms fire, artillery projectile fragments, and land mines. This advanced armor is exceedingly lightweight and, along with its dimensions, allows the vehicle to be able to "roll-on/roll-off" C-130 military transport aircraft. The ASV possesses superior mobility, agility, handling and ride quality through the utilization of a four-wheel independent suspension system. Textron Marine & Land has equipped the M1117 ASV with a specially designed dual-weapon station that, unlike many other vehicles, enables the crew to load, reload and clear gun jams under full armor protection.
With minor modifications and appropriate outfitting, ASV variants can perform a wide variety of missions including scout, infantry personnel carrier, reconnaissance, command and recovery. Current missions of the ASV include operations with the Military Police, convoy protection, and Field Artillery Combat Observation and Lasing Teams (COLT). Its record of performance, reliability and survivability in the field is excellent. Textron Marine & Land has built more than 1,200 ASVs to date, more than 950 of which have been delivered to the U.S. Army for use in operations around the globe.
About Textron Systems
Textron Systems Corporation (Textron Systems) has been providing innovative solutions to the defense, homeland security and aerospace communities for over 50 years. Known for its precision smart weapons, intelligent battlefield systems, surveillance systems, intelligence software solutions, aircraft control components, piston engines, armored vehicles and unmanned aircraft systems, Textron Systems includes AAI, HR Textron, Lycoming Engines, Overwatch Tactical Operations, Overwatch Geospatial Operations, Textron Defense Systems, and Textron Marine & Land Systems. Textron Systems Corporation is a wholly-owned subsidiary of Avco Corporation. Avco Corporation is a wholly-owned subsidiary of Textron Inc. More information is available at www.textronsystems.com.
About Textron Inc.
Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.