Friday, December 26, 2014

Systems wins deal for new armored vehicles

Systems wins deal for new armored vehicles: The U.S. Army has selected BAE Systems for its program to produce a replacement vehicle for Vietnam War-era M113 armored personnel carriers.

Under an award worth as much as $1.2 billion, BAE Systems is to engineer, manufacture and develop 29 low-rate production Armored Multi-Purpose Vehicles.

The contract features a 52-month base term worth $383 million and an option to begin the vehicles' low-rate initial production phase for another 289 vehicles.