AP News

Boeing gets a $1.9 billion deal with Navy

WASHINGTON (AP) — The Boeing Co. secured a $1.9 billion deal to build the P-8A Poseidon aircraft for the Navy.

The Defense Department, which announced the contract Friday, said it is a modification to a prior fixed-price contract. The aircraft is used for anti-submarine warfare, anti-surface warfare, intelligence and surveillance.

Boeing will perform about 75 percent of the work in Seattle, with the remainder handled in Maryland, New York and Texas, as well as the United Kingdom and other locations. The work is expected to be completed in May of 2015.

Boeing's shares rose 12 cents to close at $69.97.

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