A joint venture ofÂ Boeing (NYSE: BA) and Bell Helicopter has received twoÂ contract modificationsÂ worth potentiallyÂ $411.9 million combined to repair various parts of the U.S. Navy‘sÂ V-22 Osprey tiltrotor aircraft.
TheÂ Bell Boeing Joint Program Office secured a $246.2 millionÂ delivery order modification that containsÂ a one-year base and a one-year option period which, if exercised, will increaseÂ the potential ceilingÂ of the previously awarded contract to $545.2 million, the Defense Department said Thursday.
The second modification isÂ valued atÂ $165.7 million and contains a two-year base period.
Bell Boeing JPO will perform work in Fort Worth, Texas and in Ridley Park, Pennsylvania throughÂ December 2019.
TheÂ Naval Supply Systems Command Weapons Systems Support will obligate a total of $267.5 million from the service branch’s fiscal 2017 working capital funds at the time of award of the modifications.