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Boeing Army Radio Program Terminated By Pentagon -Bloomberg

DOW JONES NEWSWIRES Boeing Co.'s (BA) largest U.S. radio program was terminated by the Defense Department because of rising costs, Bloomberg reported on its website Friday, citing a letter to Congress from the Pentagon's acting top weapons buyer. "Based on growth in the unit procurement costs, I am terminating the program," Frank Kendall wrote in the letter, which was obtained by Bloomberg News. The Defense Department will pursue a development program to buy less-powerful radios to "provide required military capability at less cost," Kendall wrote. Boeing was developing the Joint Tactical Radio System's Ground Mobile Radios as part of a group that included Northrop Grumman Corp. (NOC), Rockwell Collins Inc. (COL), BAE Systems Plc (BA.LN) and Harris Corp. (HRS). Full story at http://www.businessweek.com/news/2011-10-14/boeing-army-radio-program-terminated-by-pentagon-as-costs-rise.html -Dow Jones Newswires; 212-416-2900

Stock News for Northrop Grumman (NOC)
DateTimeHeadline
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04/20/201511:00:00Robert J. Gough Named Vice President of Combat Avionics Systems...
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04/16/201513:00:00Northrop Grumman and bwtech@UMBC Graduate Fifth Cyber Startup...
04/16/201510:00:00Northrop Grumman Names Nicholas G. Paraskevopoulos Vice President...
04/16/201508:00:00Northrop Grumman to Expand North Dakota Presence
04/15/201510:30:00Northrop Grumman Enables Assured Warfighter Communications by...
04/14/201515:00:00Northrop Grumman's Astro Aerospace Delivers James Webb Space...

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