Financial Times FT.com

L3 team beats Raytheon for $2.04bn contract

By Guy Dinmore in Washington

Published: June 14 2007 02:21 | Last updated: June 14 2007 02:21

The Pentagon announced on Wednesday night that L-3 Communications Holdings and a US subsidiary of Italy’s Finmeccanica were awarded a $2.04bn contract for a tactical transport aircraft to service both the US army and air force, beating a rival bid by Raytheon in partnership with EADS.

The contract, which analysts say could be worth some $6bn, including future orders, is the second significant breakthrough into the US market for Finmeccanica following its involvement in the Marine One presidential helicopter contract.

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