Boeing to Produce Harpoon Weapon Systems Under $125M FMS Contract

boeing logoBoeing (NYSE: BA) has received a $124.6 million contract from the U.S. Navy to produce Harpoon weapon systems for customers abroad through a foreign military sales agreement.

The governments of Saudi Arabia, Australia, Japan, Korea, India, Turkey, Belgium, Brazil, Egypt, Kuwait, Canada and Taiwan intend to purchase 53 Harpoon systems, components and Standoff Land Attack Missile – Expanded Response weapon services, the Defense Department said Friday.

Boeing will complete the production by June 2017.

The Harpoon system uses inertial navigation to target objects on land and ships with the aid of global positioning system technology.

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