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The Defense Security Cooperation Agency notified Congress [link opens in PDF] Wednesday of plans to sell the government of India some 145 pieces of artillery -- M777 155mm Light-Weight Towed Howitzers.
Equipped with Laser Inertial Artillery Pointing Systems (LINAPS) manufactured by Finmeccanica subsidiary Selex ES, and combined with associated equipment, parts, training, and logistical support, this would add up to an arms deal valued at $885 million.
In addition to Selex, DSCA notes that other publicly traded companies involved in this deal will likely include:
- Britain's BAE Systems
- Taylor Devices of North Tonawanda, NY
- Hutchinson Industries, a subsidiary of French oil and chemicals conglomerate Total .
According to DSCA, India intends to use the howitzers to modernize its armed forces and enhance its ability to operate in "hazardous conditions." DSCA assured Congress that the sale will have "no adverse impact on U.S. defense readiness."
The article Congress Notified of $885 Million Indian Arms Deal originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Total SA (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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