(Reuters) - Textron Inc’s (TXT.N) 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