DoD Delays Full Production For Bell Helicopter H-1 Program
July 18, 2007: 05:20 PM EST
WASHINGTON -(Dow Jones)- The Defense Department on Wednesday said it has delayed full production for the U.S. Marine Corps H-1 helicopter program, led by Textron Inc.'s (TXT) Bell Helicopter unit.
Ken Krieg, the Pentagon's chief weapons buyer, added a fourth lot of low-rate initial production in fiscal year 2007, but delayed the move to full-rate production until fiscal year 2008, which starts Oct. 1.
The Pentagon did not release details of any changes to purchase quantities or timing in its announcement. The H-1 upgrade, which provides new versions of Marine Corps attack and utility aircraft, is an $8.7 billion program for 284 new helicopters, according to the Defense Department's most recent selected acquisition report data.
The H-1 program has struggled with delays and development difficulties since its inception. Over the past year, Navy officials have said it is making progress but has been slow to turn the corner and get fully back on track.
http://money.cnn.com/news/newsfeeds/articles/djf500/200707181720DOWJONESDJONLINE001034_FORTUNE5.htm
July 18, 2007: 05:20 PM EST
WASHINGTON -(Dow Jones)- The Defense Department on Wednesday said it has delayed full production for the U.S. Marine Corps H-1 helicopter program, led by Textron Inc.'s (TXT) Bell Helicopter unit.
Ken Krieg, the Pentagon's chief weapons buyer, added a fourth lot of low-rate initial production in fiscal year 2007, but delayed the move to full-rate production until fiscal year 2008, which starts Oct. 1.
The Pentagon did not release details of any changes to purchase quantities or timing in its announcement. The H-1 upgrade, which provides new versions of Marine Corps attack and utility aircraft, is an $8.7 billion program for 284 new helicopters, according to the Defense Department's most recent selected acquisition report data.
The H-1 program has struggled with delays and development difficulties since its inception. Over the past year, Navy officials have said it is making progress but has been slow to turn the corner and get fully back on track.
http://money.cnn.com/news/newsfeeds/articles/djf500/200707181720DOWJONESDJONLINE001034_FORTUNE5.htm