New Zealand Describes Defense Goals for 2013-2016
May 17th 2013 7:46PM
Updated May 18th 2013 9:00AM
The New Zealand Ministry of Defence only just finished awarding a $120-million contract to buy 10 SH-2G(I) Super Seasprite anti-submarine/anti-surface warfare helicopters from Kaman Corporation a week ago, but already the MoD is busy planning out its next series of acquisitions.
On Thursday, the MoD published its Statement of Intent describing the island nation's key defense objectives over the next three years. Among other subjects, the MoD described it will be upgrading combat systems aboard New Zealand's ANZAC-class frigates, and introducing upgraded Lockheed Martin C130 Hercules transport aircraft and P-3 Orion surveillance aircraft, and NH90 medium utility helicopters (built by Eurocopter joint venture NH Industries), into service.
The Statement also envisions the MoD making other unspecified "new acquisitions and upgrades" over the next three years, within its annual budget of "around $2.3 billion" -- roughly $1.9 billion in U.S. Dollars.
The article New Zealand Describes Defense Goals for 2013-2016 originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.