thedrifter
12-23-08, 02:31 PM
Business
Colt Defense lands $14 million order from Marines Corps for automatic rifles
By Howard French
Journal Inquirer
Published: Tuesday, December 23, 2008 12:08 PM EST
West Hartford-based Colt Defense Inc. has received a five-year “indefinite delivery, indefinite quantity” contract with a potential worth of up to $14 million from the U.S. Marine Corps, according to the latest contract listings on the Defense Department Web site.
Under terms of the deal, the Marines contracted with Colt for “production, delivery, and associated support of the Marine Corps’ Infantry Automatic Rifle,” according to the listing.
The rifle is a “lightweight, magazine-fed, 5.56mm weapon” designed to enhance the user’s maneuverability and speed “while providing the ability to suppress or destroy not only area targets, but point targets as well,” according to the listing.
The new rifle is planned to replace the M249 squad automatic weapons now used by the Marines’ “infantry and light armored reconnaissance battalions,” the Defense Department listing added.
Initially, delivery orders will be awarded for samples, spare parts, and support services. Eventually the full contract may involve up to 6,500 rifles.
All work will be done in West Hartford. The Marine Corps’ Systems Command in Quantico, Va., is the contracting base.
Colt in September also received $151 million under the most recent defense-spending bill approved by Congress for the purchase of nearly 89,000 M4 carbine rifles.
The company’s good fortunes with military contracts follow a similarly lucrative 2007 for Colt Defense, which won millions of dollars in contracts last year for M16A3 and M16A4 rifles for the U.S. Navy and the U.S. Marine Corps.
Colt also in 2007 received one of its largest contracts of the year for M4 carbines worth $71 million, as part of a $478.7 million overall contract from the U.S. Army.
Also last year, Colt Defense reached a new three-year contract agreement with United Auto Workers Local 376, which represents its 350 unionized employees.
The new pact, which expires in 2010, included wage hikes of 10.25 percent over the three-year life of the agreement. And the company also agreed to keep all production of new rifles for the military in West Hartford.
Ellie
Colt Defense lands $14 million order from Marines Corps for automatic rifles
By Howard French
Journal Inquirer
Published: Tuesday, December 23, 2008 12:08 PM EST
West Hartford-based Colt Defense Inc. has received a five-year “indefinite delivery, indefinite quantity” contract with a potential worth of up to $14 million from the U.S. Marine Corps, according to the latest contract listings on the Defense Department Web site.
Under terms of the deal, the Marines contracted with Colt for “production, delivery, and associated support of the Marine Corps’ Infantry Automatic Rifle,” according to the listing.
The rifle is a “lightweight, magazine-fed, 5.56mm weapon” designed to enhance the user’s maneuverability and speed “while providing the ability to suppress or destroy not only area targets, but point targets as well,” according to the listing.
The new rifle is planned to replace the M249 squad automatic weapons now used by the Marines’ “infantry and light armored reconnaissance battalions,” the Defense Department listing added.
Initially, delivery orders will be awarded for samples, spare parts, and support services. Eventually the full contract may involve up to 6,500 rifles.
All work will be done in West Hartford. The Marine Corps’ Systems Command in Quantico, Va., is the contracting base.
Colt in September also received $151 million under the most recent defense-spending bill approved by Congress for the purchase of nearly 89,000 M4 carbine rifles.
The company’s good fortunes with military contracts follow a similarly lucrative 2007 for Colt Defense, which won millions of dollars in contracts last year for M16A3 and M16A4 rifles for the U.S. Navy and the U.S. Marine Corps.
Colt also in 2007 received one of its largest contracts of the year for M4 carbines worth $71 million, as part of a $478.7 million overall contract from the U.S. Army.
Also last year, Colt Defense reached a new three-year contract agreement with United Auto Workers Local 376, which represents its 350 unionized employees.
The new pact, which expires in 2010, included wage hikes of 10.25 percent over the three-year life of the agreement. And the company also agreed to keep all production of new rifles for the military in West Hartford.
Ellie