FMTV

RNS Number : 1409H

BAE SYSTEMS PLC

15 February 2010

 



BAE Systems - FMTV re-compete

                                    15 Feb 2010

On 27 August 2009 BAE Systems announced that it had been notified by the US Department of Defense (DoD) that it had not been awarded a follow-on contract for production of vehicles under the Family of Medium Tactical Vehicles (FMTV) programme. 

Following protests of that decision the US Government Accountability Office recommended a re-evaluation of the offerors' proposals. 

The Group has now been informed that the decision not to award the contract to BAE Systems has been confirmed.  With confirmation of this decision the Group will include in its 2009 accounts an impairment of goodwill and other intangible assets amounting to £592 million relating to the Armor Holdings Inc. transaction and specifically the FMTV product line.

Issued by:

BAE Systems plc

London

 

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