Report: Army, Boeing Negotiate Multiyear Contract on Apache Helicopters

ArmyLogisticsBoeing (NYSE: BA) and the U.S. Army have started negotiations over a multiyear contract for the branch’s procurement of Apache helicopters, Reuters reported Wednesday.

Andrea Shalal writes the military service seeks to buy as many as 240 Boeing AH-64s between fiscal 2017 and fiscal 2021 under a deal that could be worth up to $4 billion.

Col. Jeff Hager, Army’s Apache program manager, expects the Defense Department to approve the multiyear helicopter procurement agreement in March 2016.

Mark Ballew, head of business development for attack helicopter programs at Boeing, told Reuters the contract could include a foreign military sales option for up to 100 attack helicopters.

Shalal reports the company has been working with the Army and industry partners to develop a savings plan that would help justify a multiyear project.

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