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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bae Systems Plc | LSE:BA. | London | Ordinary Share | GB0002634946 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.50 | 0.49% | 1,326.50 | 1,325.50 | 1,327.00 | 1,330.50 | 1,322.50 | 1,323.50 | 208,917 | 08:06:42 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Aircraft | 23.23B | 1.86B | 0.6133 | 21.52 | 39.97B |
BAE Systems has received a $120 million contract from the U.S. Marine Corps for additional Amphibious Combat Vehicles under a third order for Low Rate Initial Production (LRIP). This award is an important next step on the path to full rate production.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191030005625/en/
The U.S. Marine Corps has awarded BAE Systems a $120 million contract for continued low-rate production of the Amphibious Combat Vehicle. (Photo: BAE Systems, Inc.)
This latest contract is for the ACV personnel carrier variant (ACV-P), an eight-wheeled amphibious assault vehicle capable of transporting Marines from open-ocean ship to shore and conducting land operations. Each vehicle embarks 13 Marines in addition to a crew of three.
“This award further validates the Marine Corps’ confidence in the vehicle’s proven capability in meeting their amphibious mission, and represents an important step toward fielding the vehicle in the Fleet Marine Force. The ACV is a highly mobile, survivable and adaptable platform designed for growth to meet future mission role requirements while bringing enhanced combat power to the battlefield,” said John Swift, director of amphibious programs at BAE Systems.
Current low-rate production is focused on the ACV-P variant. More variants will be added under full rate production to include the command and control (ACV-C), 30mm medium caliber turret (ACV-30) and recovery variants (ACV-R) under the ACV Family of Vehicles program. BAE Systems previously received the Lot 1 and Lot 2 awards.
The Marine Corps selected BAE Systems along with teammate Iveco Defence Vehicles for the ACV program in 2018 to replace its legacy fleet of Assault Amphibious Vehicles, which have been in service for decades and were also built by BAE Systems.
ACV production and support is taking place at BAE Systems locations in Stafford, Virginia; San Jose, California; Sterling Heights, Michigan; Aiken, South Carolina; and York, Pennsylvania.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191030005625/en/
Elizabeth Delano Mobile: +001 (408) 289-2312 Elizabeth.delano@baesystems.com
www.baesystems.com/US @BAESystemsInc
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