Fort Worth, TX - April 29, 2009 – Bell Helicopter, a Textron Inc. (NYSE: TXT) company, today announced that the U.S. Army has awarded the company a $60.3 million contract for 24 of its Model 407 helicopters, which the Army will provide to the Iraqi Air Force as part of a planned Foreign Military Sale to Iraq.
The Iraqi Ministry of Defense has selected the Bell Model 407 as the basis for a new Iraqi Air Force armed scout helicopter. Initial aircraft deliveries to the U.S. Army are expected to begin later this year. The 24 Model 407 helicopters, built at Bell’s commercial aircraft manufacturing facility in Mirabel, Canada, will be militarized by the U.S. Army to meet Iraqi Air Force requirements.
In February, the U.S. Army purchased three Model 407s from Bell that are currently being used as prototype aircraft for the development and testing of military-unique modifications. Once the Army has finished qualification with the initial prototype aircraft, military-unique modifications will then be applied to these 24 production aircraft before they are delivered to the Iraqi Air Force.
The Model 407 is Bell Helicopter’s most popular commercial product and has accumulated more than 2.3 million hours of proven commercial service in a variety of configurations, including law enforcement, medical evacuation, offshore support and executive transport.
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 multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron in known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
This release contains forward-looking statements regarding a U.S. Government programs 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.
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