Textron wins Canada armored vehicle contract

Fri Jun 8, 2012 3:13pm EDT
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(Reuters) - Textron Inc's (TXT.N: Quote) Textron Systems Canada company said Friday that it won a contract to provide Canada with its tactical armored patrol vehicle (TAPV).

The contract is valued at C$603.4 million ($585.06 million), with an additional five-year in-service support contract of C$105 million ($101.81 million), excluding sales taxes.

Textron's TAPV team, led by Textron Systems Canada, with Textron Marine & Land Systems and Rheinmetall Canada, will manufacture 500 vehicles with an option for up to 100 more, Textron said in a statement.

The vehicle is designed to meet the Canadian Forces needs for the next quarter century. ($1 = 1.0314 Canadian dollars)

(Reporting By Lynn Adler; editing by Andre Grenon)