Navy Awards $10.4 Billion V-22 Multiyear Deal

By Christopher J. Castelli / March 28, 2008 at 5:00 AM
The Navy today awarded a five-year, $10.4 billion contract to Bell Helicopter Textron and Boeing for the manufacture and delivery of 167 V-22 Osprey tiltrotor aircraft. The contract -- the program's first multiyear procurement deal -- covers 141 Marine Corps MV-22s and 26 Air Force CV-22s, to be bought in fiscal years 2008 through 2012. In a prepared statement, Marine Col. Matt Mulhern, the V-22 program manager, said the deal saves taxpayers $427 million, reduces risk to the government by...

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