GE gets contract for Navy helicopter engines

AP News
Posted: Dec 22, 2009 7:07 PM

The Defense Department said Tuesday that General Electric has been awarded a contract worth up to $160.4 million to repair and replace T700 engines on some Navy helicopters.

The engines are on the Navy's H-60 helicopter and AH-1W attack helicopter. The contract includes a 33-month base period worth $85.7 million and two one-year options. The total value including the options would be $160.4 million.

General Electric will perform the work in Arkansas City, Kan., with completion slated for September 2014.

General Electric shares fell 9 cents to close at $15.48.