FONT-SIZE Plus   Neg

Embraer, Sierra Nevada Win $427 Mln Afghan Fighter Contract

U.S.-based Sierra Nevada Corp. and Brazil's Embraer-Empresa Brasileira De Aeronautica SA (ERJ) have won a $427 million contract to provide light air support aircraft and associated maintenance and training for the Afghan air force, Pentagon Press Secretary George Little said Wednesday.

Deputy Defense Secretary Ashton Carter called Brazilian Minister of Defense Celso Amorim to inform about the decision made by the United States Air Force.

Sierra Nevada Corp. is based in Sparks, Nevada, while Embraer SA is its Brazilian subcontractor.

As per the contract, 20 aircraft are scheduled to be delivered to operational air bases in Afghanistan beginning in the summer of 2014 to conduct advanced flight training, surveillance, close air support and air interdiction missions.

Little said this platform ''is critical to providing enabling support to the Afghan National Security Forces as part of United States enduring support to Afghanistan following the completion of the ISAF mission at the end of 2014.''

ERJ closed up 3.6 percent at $33.90 on Wednesday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Trade ERJ now with 
Follow RTT