Bell Helicopter, a Textron Inc. (NYSE: TXT) company, announced that the U.S. Navy has exercised an option under its contract with Bell to purchase Lot 5 of the H-1 Upgrade Program, an award worth $210 million.
The 15 aircraft in Lot 5 include 11 UH-1Y aircraft and four AH-1Z aircraft. All 15 aircraft will be built at Bell’s Military Aircraft Assembly Center in Amarillo, Texas.
On Sept. 30, the Navy signed a modification to an existing contract that exercised an option to purchase the additional aircraft. Bell is now on contract to produce a total of 49 upgraded H-1 aircraft for the Marines: 37 UH-1Y utility aircraft and 12 AH-1Z attack aircraft. So far, the company has delivered 20 upgraded H-1 helicopters: 14 UH-1Ys and six AH-1Zs.
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 $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 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.