June 8, 2012 / 7:14 PM / 6 years ago

Textron wins Canada armored vehicle contract

(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

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