A joint venture between Boeing (NYSE:BA) and Textron‘s (NYSE: TXT) Bell subsidiary has received a potential three-year, $1.10B contract to provide logistics and repair services for components of the Osprey joint service multirole combat aircraft fleet.
Bell Boeing Joint Project Office will support 225 parts in MV-22B, CMV-22 and CV-22 planes operated by the U.S. Navy and the U.S. Air Force, the Department of Defense said Thursday.
The non-competitive contract has a one-year base value of $298M along with options that would extend work through December 2021.
The Navy will initially allocate $62M in working capital funds for an undefinitized contractual action delivery order.
Eighty-percent of work will take place in Fort Worth, Texas, and the remaining 20 percent will occur in Ridley Park, Pa.