Textron Systems Canada Inc., a Textron Inc. (TXT) company, announced that it has been selected by the Canadian government for the Canadian Forces Tactical Armoured Patrol Vehicle or TAPV program.
The company said that the contract provides that the Textron TAPV Team, led by Textron Systems Canada, together with Textron Marine & Land Systems and Rheinmetall Canada, will manufacture 500 vehicles, with an option for up to 100 more.
The TAPV contract has a value of C$603.4 million , excluding government sales tax/harmonized sales tax (GST/HST), with an additional five-year in-service support contract of C$105.4 million, excluding GST/HST. The first vehicle is scheduled to be delivered to the Canadian Army in July 2014 and the last delivery is scheduled for March 2016.
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