Advertisement
UK markets open in 2 hours 55 minutes
  • NIKKEI 225

    37,701.21
    -758.87 (-1.97%)
     
  • HANG SENG

    17,282.58
    +81.31 (+0.47%)
     
  • CRUDE OIL

    82.87
    +0.06 (+0.07%)
     
  • GOLD FUTURES

    2,324.90
    -13.50 (-0.58%)
     
  • DOW

    38,460.92
    -42.77 (-0.11%)
     
  • Bitcoin GBP

    51,583.39
    -1,885.86 (-3.53%)
     
  • CMC Crypto 200

    1,391.09
    -33.01 (-2.32%)
     
  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     
  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     

BAE Systems wins $318 million contract from U.S. Army

(Reuters) - Britain's BAE Systems <BAES.L> said on Tuesday it has won a $318 million contract from the United States Army in order to upgrade M88 recovery vehicles to the M88A3 configuration.

The configuration will eliminate necessity of using two vehicles to raise and move tanks, which have increased in weight in recent years, BAE said in a statement.

The contract has been given under an Other Transactional Authority (OTA) acquisition model, according to the statement.

(Reporting by Maria Ponnezhath in Bengaluru, Editing by Franklin Paul)