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Boeing Lands $800M Navy Contract Modification for Lot 11 Long-Lead Poseidon Materials

Jeff Brody

Boeing (NYSE: BA) has secured an $800M contract modification with the U.S. Navy to obtain long-lead materials and services needed to build an 11th batch of P-8A multimission maritime planes.

The award is intended to address advanced procurement requirements to manufacture eight Poseidon aircraft for the service branch as well as four planes for New Zealand and another six for South Korea, the Department of Defense said Friday.

P-8A is designed to perform anti-submarine and anti-surface warfare, intelligence, surveillance and reconnaissance missions within broad-area, maritime and littoral environments.

The Pentagon expects Boeing to finish work by June 2020.

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