Boeing bows out of multibillion-dollar Minuteman III replacement competition

Boeing bows out of multibillion-dollar Minuteman III replacement competition

Boeing Co has decided it will not compete as a prime contractor to replace the Pentagon's aging U.S.-based Minuteman III missile system, paving the way for Northrop Grumman Corp to win a contract worth tens of billions of dollars.

The Boeing logo is displayed on a screen, at the NYSE in New York
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid

WASHINGTON: Boeing Co has decided it will not compete as a prime contractor to replace the Pentagon's aging U.S.-based Minuteman III missile system, paving the way for Northrop Grumman Corp to win a contract worth tens of billions of dollars.

Friday marked the deadline to submit proposals to continue work on the replacement of the nearly half-century-old intercontinental ballistic missile (ICBM) system as the military embarks on a costly modernization of its aging atomic weapons.

Boeing said in a statement that it was disappointed it was unable to submit a bid.

(Reporting by Mike Stone; editing by Jonathan Oatis)

Source: Reuters

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