ROME (AP) -- Boeing Co. and AgustaWestland will supply the Italian Army with 16 Chinook helicopters under a contract worth about $1.23 billion.
Under the contract announced Wednesday, Chicago-based Boeing will be the prime subcontractor to AgustaWestland, a unit of Italian military contractor Finmeccanica, for the ICH-47H Chinook helicopters.
Boeing will build fuselages for the aircraft at its facility in Ridley Park, Pa. AgustaWestland will handle design and systems integration, final assembly and delivery to the Italian Army.
AgustaWestland expects to start deliveries in 2013.
Shares of Boeing fell $1.70, or 3.9 percent, to $42.40 as the general market retreated in afternoon trading Wednesday.