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Boeing-Bell JV Gets $267M Modification on Osprey Military Aircraft Logistics Contract

V-22-OspreyA joint venture of Boeing (NYSE: BA) and Bell Helicopter has received a $267.25 million contract modification from the U.S. Navy to provide additional logistics support for the V-22 Ospreys of the Marine Corps,  Air Force and Special Operations Command.

The Defense Department said Tuesday the Bell-Boeing Joint Project Office will perform work through November 2018 at various locations within and outside the continental U.S.

The modification covers joint performance-based logistics services for the Marine Corps’ MV-22 Osprey aircraft as well as the Air Force and Special Operations Command’s CV-22 units.

DoD said that $69.9 million from the Navy’s fiscal 2017 operations and maintenance funds, $41.2 million from the Special Operations Command’s O&M funds, $4.4 million from the Air Force’s fiscal 2017 funds and $16 million from the Navy’s fiscal 2017 aircraft procurement budget will be obligated at the time of award.

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