is expected Monday to announce it plans to enter the bidding to build a fleet of presidential helicopters, the
New York Times
Boeing will buy the rights to build a mid-size helicopter from
, a European company, according to Philip J. Dunford, vice president and general manager of Boeing Rotorcraft Systems, the
reports. AgustaWestland previously teamed with
for the project, which the Pentagon canceled in June 2009, citing cost overruns, according to the newspaper.
By building the helicopters itself, Boeing hopes to avoid some of the problems that hampered the previous contractors.
also says there are signs that the Pentagon might ease some of the arduous requirements that caused the projected cost to double, to $13 billion for just 28 helicopters.
Dow Jones Newswires
reports Boeing and
will issue a statement at midday Monday, a person familiar with the situation said without elaborating. Finmeccanica owns AgustaWestland.
-- Written by Joseph Woelfel in New York.
Follow TheStreet.com on
and become a fan on