Textron Gets Contract to Build Knight Armored Vehicles

Dec.30.09 | About: Textron Inc (TXT)

Textron Inc.’s (NYSE:TXT) operating unit Textron Marine & Land Systems has received a contract to build 27 Armored Knight vehicles for U.S. Army Tank-automotive and Armaments Command (TACOM).

The firm fixed-price contract is indefinite and valued at approximately $10 million. The vehicles are scheduled for delivery by the end of 2010. The M1200 Armored Knight is a derivative of the Textron Marine & Land Systems Armored Security Vehicle (ASV).

Textron Marine & Land Systems operating unit is a part of Textron Systems Corporation, which in turn a wholly owned subsidiary of Textron Inc. Textron Systems provides unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services.

Textron Inc has a 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.

Shares of Textron fell 1.3% or 24 cents on Tuesday and closed at $19.01. Textron’s future success in the competitive defense industry depends upon its ability to develop and market its defense-related products and services to the U.S. Government, as well as its ability to provide people, technologies, facilities, equipment and financial capacity needed to deliver those products and services at maximum efficiency. The company competes with Tyco International Ltd. (NYSE:TYC), Danaher Corporation (NYSE:DHR), and ITT Corporation (NYSE:ITT).