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Ricardo wins $89m contract from US Army for vehicle safety upgrades
StockMarketWire.com
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Engineering company Ricardo said it had won an $89 million contract to make safety improvements to the US Amry's high mobility multi-purpose wheeled vehicle.
The three-year contract would see Ricardo provide up to 9,480 antilock brake system and electronic stability control retrofit kits for the vehicles.
The first delivery order would include $10 million to deliver 1,200 retrofit kits by August.
A second delivery order was expected later this year to increase deliveries to about 2,000 retrofit kits over the next 12 months.
'Today's initial award marks the beginning of a multi-year contract for Ricardo Defense to improve the safety and operational readiness of the fielded HMMWV fleet for US soldiers and HMMWV operators worldwide,' Ricardo said.
Story provided by StockMarketWire.com
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