Bell Helicopter Receives Contract for Additional H-1 Aircraft

Bell Helicopter, a Textron Inc. (NYSE: TXT) company, announced that the U.S. Navy has exercised an option under its contract with Bell to purchase Lot 5 of the H-1 Upgrade Program, an award worth $210 million.

The 15 aircraft in Lot 5 include 11 UH-1Y aircraft and four AH-1Z aircraft. All 15 aircraft will be built at Bell’s Military Aircraft Assembly Center in Amarillo, Texas.

On Sept. 30, the Navy signed a modification to an existing contract that exercised an option to purchase the additional aircraft. Bell is now on contract to produce a total of 49 upgraded H-1 aircraft for the Marines: 37 UH-1Y utility aircraft and 12 AH-1Z attack aircraft. So far, the company has delivered 20 upgraded H-1 helicopters: 14 UH-1Ys and six AH-1Zs.