Textron Wins $640M for Air Force Cluster Bombs

NavyRocketTextron Defense Systems (NYSE: TXT) has won a $640, 786, 442 contract modification from the U.S. Air Force for 1, 300 cluster bomb units.

This modification to a firm-fixed-price contract supports a foreign military sales agreement with Saudi Arabia, the Defense Department said Tuesday.

The Air Force is obligating $410, 218, 248 in foreign military sales funds at the time of award.

Saudi Arabia is also one of five countries that are purchasing Raytheon-made (NYSE: RTN) missiles and components under an estimated $200.5 million contract modification.

Close to 47 percent of that contract covers foreign military sales transactions.

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