19-Jul-2010 Source: Bell
Bell Helicopter, a Textron Inc. (NYSE: TXT) company, continues to ramp up its production of H-1 helicopters after receiving a $546 million contract in June for the manufacture and delivery of Lot 7 of the U.S. Marine Corps H-1 Upgrade program.
The contract includes 18 UH-1Y utility helicopters and 11 AH-1Z attack helicopters. Final assembly of the helicopters will take place at Bellâ€™s Military Aircraft Assembly and Delivery Center in Amarillo, Texas, with deliveries of Lot 7 aircraft to begin in 2011.
In October 2009, Bell began construction of a $31 million, 137,000-square-foot H-1 flight operations hangar and 500,000 square feet of additional ramp space at its Amarillo facility. Expansion is expected to be complete in October 2010.
Bell delivered one AH-1Z and eight UH-1Ys in 2009 and plans to deliver six AH-1Zs and 14 UH-1Ys in 2010.Â The company expects to ramp up to delivering 27 aircraft per year in 2012.
The UH-1Y is currently deployed to Afghanistan, flying with Marine Light Attack Helicopter Squadron 369 (HMLA-369), the “Gunfighters.”
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 tiltrotor 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 is 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.
Forward-looking Information: This release contains forward-looking statements regarding 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 Overseas Contingency Operations; 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.