December 13, 2019 / 7:18 PM / a month ago

Boeing bows out of multibillion-dollar Minuteman III replacement competition

WASHINGTON, Dec 13 (Reuters) - Boeing Co has decided it will not compete as a prime contractor to replace the Pentagon’s aging U.S.-based Minuteman III missile system, paving the way for Northrop Grumman Corp to win a contract worth tens of billions of dollars.

Friday marked the deadline to submit proposals to continue work on the replacement of the nearly half-century-old intercontinental ballistic missile (ICBM) system as the military embarks on a costly modernization of its aging atomic weapons.

Boeing said in a statement that it was disappointed it was unable to submit a bid. (Reporting by Mike Stone; editing by Jonathan Oatis)

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