Under a new four-year contract from the U.S. Air Force, Boeing [NYSE: BA] will provide maintenance, engineering, training and support for the system that enables the rescue of downed pilots and other warfighters in danger.
The Combat Survivor Evader Locator (CSEL) program's first multi-year logistics contract is valued at $32.5 million in total. A global emergency call system used by the Air Force, Army, Marine Corps and Navy for search and rescue operations, CSEL consists of hand-held radios, satellite relays and four global base stations.
"With this first-ever multi-year CSEL support contract, Boeing will be able to provide reliable, long-term service for this essential system," said Steve Capps, Boeing CSEL program manager. "This agreement also eliminates our annual proposal costs for the next three years and helps maintain a more stable employment base over the life of the contract."
Source: The Boeing Company (NYSE: BA)
Date: Apr 24, 2014