BAE Systems Bags $79 Mln Contract For ACV-R Test Vehicles From U.S. Marine Corps

(RTTNews) - BAE Systems Plc. (BA) announced on Monday that it has secured a $79 million contract from the U.S. Marine Corps to build and deliver production representative test vehicles or PRTVs for the Amphibious Combat Vehicle Recovery or ACV-R program.

Garrett Lacaillade, vice president of amphibious programs at BAE Systems said, "The ACV-R is a modern, highly capable recovery and mobile repair unit that provides critical expeditionary support to immobilized ACVs in the field and provides maintenance support capabilities without risking our Marines' safety."

The company noted that the contract, which marks the second phase of ACV-R program, will produce PRTVs to be used in government testing next year.

Previously, BAE had received a similar contract from the Marine Corps regarding the design and development of the recovery variant.

Currently, BAE's stock is trading at 1,337 pounds, up 0.83 percent on the London Stock Exchange.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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