BAE Systems Wins $542 Million Contract to Supply India Howitzers
January 13 2017 - 4:58AM
Dow Jones News
By Robert Wall
LONDON--BAE Systems PLC (BAESY) said Friday it had received a
$542 million contract to supply advanced artillery equipment to
India, after protracted talks caused the company to halt
production.
BAE Systems said it would supply 145 M777 howitzers to the
Indian army, with work to begin immediately and deliveries set to
start in June.
The Pentagon awarded the contract to BAE Systems under a
so-called foreign military sales agreement between the U.S. and
India. The countries finalized the deal in November.
BAE Systems suspended production of the M777 in 2013 because of
a lack of orders, as negotiations with India dragged.
Write to Robert Wall at robert.wall@wsj.com
(END) Dow Jones Newswires
January 13, 2017 04:43 ET (09:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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