Fort Worth, TX - April 2, 2009 - Bell Helicopter, a Textron Inc. (NYSE: TXT) company, announced that the U.S. Navy has awarded a new production contract to Bell for the purchase of Lot 6 of the H-1 Upgrade Program, an award worth $288 million.
The 16 aircraft in Lot 6 include five AH-1Z aircraft and 11 UH-1Y aircraft. All 16 aircraft will be built at Bell's Military Aircraft Assembly Center in Amarillo, Texas, with deliveries of completed Lot 6 aircraft scheduled to begin in 2011.
Officials at Naval Air Systems Command, Patuxent River, Md., signed the new production contract Mar. 27. Bell is now on contract to produce a total of 65 upgraded H-1 aircraft for the Marines: 17 AH-1Z attack aircraft and 48 UH-1Y utility aircraft. So far, the company has delivered 23 upgraded H-1 helicopters: six AH-1Zs and 17 UH-1Ys.
About Bell Helicopter
Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tilt rotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.
About Textron Inc.
Textron Inc. is a $14.2 billion multi-industry company operating in 28 countries with approximately 42,000 employees. The company leverages its global network of aircraft, defense and intelligence, 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.
Forward-looking Information: This release contains forward-looking statements regarding a U.S. Government program awarded to Bell Helicopter. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the following: (a) Textron's ability to perform as anticipated and to control costs under contracts with the U.S. Government; (b) the U.S. Government's ability to unilaterally modify or terminate its contracts with Textron for the Government's convenience or for Textron's failure to perform, to change applicable procurement and accounting policies, and, under certain circumstances, to suspend or debar Textron as a contractor eligible to receive future contract awards; (c) changing priorities or reductions in the U.S. Government defense budget, including those related to Operation Iraqi Freedom, Operation Enduring Freedom and the Global War on Terrorism; and (d) changes in national or international funding priorities, U.S. and foreign military budget constraints and determinations and government policies on the export and import of military and commercial products.
817 280 5097