This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Boeing And Saab Sign Joint Development Agreement On T-X Family Of Systems Training Competition

Stocks in this article: BA

ST. LOUIS and STOCKHOLM, Dec. 6, 2013 /PRNewswire/ -- Boeing (NYSE: BA) and Saab AB ( Stockholm: SAABB) have signed a Joint Development Agreement (JDA) to jointly develop and build a new advanced, cost-efficient T-X Family of Systems training solution for the upcoming competition to replace the U.S. Air Force's aging T-38 aircrew training system. The JDA, with Boeing as the prime contractor and Saab AB as primary partner, covers areas including design, development, production, support, sales and marketing.

(Photo: http://photos.prnewswire.com/prnh/20131206/NY28925-a)(Photo: http://photos.prnewswire.com/prnh/20131206/NY28925-b)

"Teaming with Saab will bring together our companies' formidable technical expertise, global presence, and willingness to present an adaptable and affordable advanced pilot training solution," said Boeing Military Aircraft President Chris Chadwick. "Boeing and Saab form the foundation for what will be the strongest, most cost-effective industry team. Our comprehensive Family of Systems approach provides a new, purpose-built T-X aircraft supported by innovative training and logistics support to offer total-life-cycle cost benefits to the U.S. Air Force and taxpayers."

"Saab is proud to join with Boeing for the T-X competition, thus creating a highly capable team to deliver unprecedented value to the customer. We are sure this is the best way to supply affordable first-class trainers to the U.S. Air Force," said Saab President and CEO Hakan Buskhe. "We will invest in development of this completely new aircraft design over the coming years. This cooperation with Boeing is part of our strategic development and we confirm our long-term financial targets."

Boeing and Saab look forward to the upcoming acquisition process, which will lead to the customer awarding the contract. The U.S. Air Force T-X program will include aircraft and training that will prepare warfighters for the next 40 years. The Air Force plans to replace the T-38 with a new Advanced Pilot Training Family of Systems and about 350 aircraft, plus associated ground-based training systems and logistics and sustainment support.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs