Textron Financial News Release

Bell Boeing to begin U.S. Navy CMV-22B production work under $4 billion contract

  • Contract provides a total of 58 tiltrotors to United States Navy, Marines, and Air Force, and the government of Japan
  • New CMV-22B variant begins modernization of U.S. Navy carrier onboard delivery fleet

FORT WORTH, July 2, 2018 — Bell Boeing Joint Program Office, Amarillo, Texas, is awarded $4,191,533,822 for modification P00008 to convert the previously awarded V-22 tiltrotor aircraft advance acquisition contract (N00019-17-C-0015) to a fixed-price-incentive-fee multiyear contract.  This contract provides for the manufacture and delivery of 39 CMV-22B aircraft for the Navy; 14 MV-22B aircraft for the Marine Corps; one CV-22B for the Air Force; and four MV-22B aircraft for the government of Japan.

“Bell Boeing is pleased to extend production of the V-22, supporting our warfighters with one of the most versatile and in-demand platforms in the U.S. arsenal,” said Chris Gehler, Bell Vice President for the V-22 Program. “This multiyear production contract provides program production stability through at least 2024.”

The U.S. Navy will use its new CMV-22B for transporting personnel and cargo from shore to aircraft carriers, eventually replacing the C-2 Greyhound, which has been in service since the mid-1960s.

“By combining aircraft for three services and a key U.S. Ally into one multiyear order, the U.S. Navy gets more capability for its procurement dollar,” said Kristin Houston, Vice President, Boeing Tiltrotor Programs and Director, Bell Boeing V-22 Program. “It also enables the U.S. Navy to begin advancing its carrier onboard delivery fleet with modern tiltrotor aircraft. It’s a true win-win.”

ABOUT BELL

Thinking above and beyond is what we do. For more than 80 years, we’ve been reimagining the experience of flight – and where it can take us. We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were aboard NASA’s first lunar mission and brought advanced tiltrotor systems to market. Today, we’re defining the future of on-demand mobility.

Headquartered in Fort Worth, Texas – as a wholly-owned subsidiary of Textron Inc., – we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours. Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.

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, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

ABOUT BOEING

For more information on Defense, Space & Security, visit www.boeing.com. Follow us on Twitter: @BoeingDefense and @BoeingSpace.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these 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 statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the efficacy of research and development investments to develop new products or unanticipated expenses or delays in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; and our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers.

Contact:

Ryan Elliott
Bell
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Mobile: +1 817-357-5512
mediarelations@bh.com
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Kelsey Swanson
Defense, Space & Security
Office: +1 610-591-1990
Mobile: +1 610-379-6191
kelsey.a.swanson@boeing.com