% | $
Quotes you view appear here for quick access.

AeroVironment, Inc. Message Board

  • bluestar_invest bluestar_invest Jul 18, 2012 7:59 PM Flag

    AVAV: Pentagon Resumes Arms Aid to Yemen for Counter-Terrorism


    The Pentagon is resuming the supply of counter-terrorism weapons, ammunition, radios, aircraft and commando raiding craft to Yemen after a year’s interruption because of the nation’s instability.

    The renewed aid totals about $112 million, according to Pentagon data. The equipment is being purchased under so-called Section 1206 funding, which lets the Pentagon spend on counter- terrorism training and equipment for allies.

    The U.S. military has been “working closely with the Yemeni government to operationally dismantle and ultimately eliminate the terrorist threat posed” by al-Qaeda in the Arabian Peninsula, according to the report. The Central Intelligence Agency also has been launching drone strikes on terrorist targets in Yemen.

    Of the $112 million in renewed aid, $75 million is for training, night- vision goggles, small Raven drones made by Aerovironment Inc. (AVAV), radios and vehicles. An additional $23.4 million is for “fixed-wing aircraft,” while $14 million is for a “special operations force enhancement program.”

    All the items will be on contract by September 30 with deliveries to “commence as soon as possible” to be completed within 18 months, the Pentagon letter said.

22.28-0.08(-0.36%)4:00 PMEDT