Boeing wins $668 million in Apache helicopter orders

WASHINGTON Fri May 4, 2012 6:28pm EDT

A U.S. AH-64 Apache helicopter fires a rocket during a joint live firing exercise between South Korea and the U.S. at the U.S. Army's Rodriguez Live Firing Range in Pocheon, about 46 km (28 miles) northeast of Seoul and about 15 km (9 miles) south of the demilitarized zone separating the two Koreas, September 1, 2011. REUTERS/Jo Yong-Hak

A U.S. AH-64 Apache helicopter fires a rocket during a joint live firing exercise between South Korea and the U.S. at the U.S. Army's Rodriguez Live Firing Range in Pocheon, about 46 km (28 miles) northeast of Seoul and about 15 km (9 miles) south of the demilitarized zone separating the two Koreas, September 1, 2011.

Credit: Reuters/Jo Yong-Hak

WASHINGTON (Reuters) - Boeing Co (BA.N) has won two U.S. Army orders worth $668 million for work on AH-64D Apache Block III helicopters for the U.S. military and Taiwan, the Pentagon said on Friday.

In a daily digest of major arms contracts, the Defense Department said Boeing had won a firm, fixed-price contract of $486 million for low-rate initial production of 51 remanufactured Apache helicopters in the new configuration.

Boeing began work on the orders in October, under a preliminary contract while it was finalizing the terms of the contract with the Army. Work on the helicopters is due to be completed by the end of November 2014.

Boeing also won a $172 million, firm-fixed-price contract to deliver an unspecified number of Apache Block III helicopters to Taiwan in a deal that would run through the end of 2014.

(Reporting By Andrea Shalal-Esa)