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Embraer, Sierra Nevada Win $427 Mln Afghan Fighter Contract

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2/27/2013 11:37 PM ET

U.S.-based Sierra Nevada Corp. and Brazil's Embraer-Empresa Brasileira De Aeronautica SA (ERJ: Quote) 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.

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by RTT Staff Writer

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