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Delayed Nyse  -  04:04 2022-10-07 pm EDT
61.30 USD   -2.12%
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Textron : Receives up to $353M Award to Support U.S. Army Close Terrain Shaping Capabilities

08/03/2022 | 12:09pm EDT

WILMINGTON, MA/August 3, 2022 - Textron Systems Corporation, a Textron Inc. (NYSE: TXT) company, announced today that it received a five-year contract from the U.S. Army Contracting Command - New Jersey which was executed in support of the U.S. Army Project Manager Close Combat Systems. The contract is valued up to $353,980,000 to produce the XM204 Top Attack Munition, an anti-vehicle terrain shaping system, and associated trainers. The XM204 precision anti-vehicle capability supports modernization of the Army's terrain shaping and counter-mobility capabilities.

The five-year Indefinite Delivery Indefinite Quantity (IDIQ) production contract was awarded in response to a U.S. Army Europe Operational Needs Statement and follows a 2019 development and qualification contract also awarded to Textron Systems. In addition, the first delivery order has been awarded under this IDIQ contract, which would see delivery in fiscal year 2023 of XM204 Munitions and XM98 Emplacement Trainers in support of an Initial Operational Capability.

The XM204 is an anti-vehicle munition with stand-off and top attack capabilities designed to support complex terrain shaping operations by denying enemy armored vehicles freedom to maneuver. The XM204 can be rapidly emplaced and is highly portable; the system can be employed alone, in multiples or in tandem with other terrain shaping systems.

"We are supporting the Army's urgent need with an anti-vehicle munition that helps soldiers control the physical landscape," said Henry Finneral, Senior Vice President, Weapon Systems. "Soldiers will be able to create obstacles in terrain where they don't naturally exist, slowing enemy vehicles down and preventing their advancement. XM204 is a modern solution at a time when modernization is a top priority for our customer."

The program fulfills a critical requirement to responsibly replace obsolete munitions and increase the capability of terrain shaping obstacles as the military prepares to counter peer adversaries. Critical to the program is the fielding of a highly effective, anti-vehicular munition system that is compliant with U.S. and Department of Defense policies.

About Textron Systems

Textron Systems is a world leader in unmanned air, surface and land products, services and support founded on the combined expertise in our family of brands that includes Textron Systems, Howe & Howe, Lycoming, and ATAC. We harness the unlimited power of teamwork to solve incredible problems across seven specialized domains: air, land, sea, propulsion, weapon systems, electronic systems and test, training & simulation. From product development and manufacturing to training, operations and support, we integrate and offer ingenious and advanced solutions to support defense, aerospace, and other customer missions. For more information, visit www.textronsystems.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information, visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, unanticipated expenses or delays in connection with the launching of significant new products or programs; changing priorities or reductions in the U.S. Government defense budget; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government's ability to unilaterally modify or terminate its contracts with us for the U.S. Government's convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; and performance issues with key suppliers, subcontractors or business partners.

Media Contacts
Textron Systems
Public Relations Team


Textron Inc. published this content on 03 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2022 16:08:04 UTC.

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Net income 2022 856 M - -
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