HUNT VALLEY, Md. (AP) — United Industrial Corp., an affiliate of Textron Inc., said Monday its subsidiary AAI Corp. received a contract worth up to $153.4 million for 14 unmanned aircraft systems.
AAI will receive $75.2 million in initial funding for the unmanned aircraft system that is used for reconnaissance and surveillance by U.S. soldiers.
Work will be performed at AAI's manufacturing facilities in Hunt Valley.
To date, 61 systems have been delivered to the Army. AAI has a current backlog that extends through March 2010.
Shares of United Industrial added 7 cents to close at $80.86.