The U.S. Department of Defense has awarded Rhode Island-based Textron Inc. (NYSE: TXT) a $174 million contract for the construction of amphibious landing craft for the U.S. Navy. More than a quarter of the work will be performed at Textron’s Indianapolis facility.
The contract is part of the Ship to Shore Connector program, which calls for the replacement of existing Landing Craft, Air Cushion vehicles nearing the end of their service life. The vehicles are designed to last 30 years.
Work on the contract will performed throughout the world, the most of which will be at Textron’s Marine and Land Systems division in Louisiana. The work is expected to be completed by October 2020.
The Naval Sea Systems Command in Washington D.C. is the contracting activity.