Textron buys NOLA shipyard

Textron Systems has purchased a 600,000-square-foot shipyard in New Orleans from Trinity Industries for $1.9 million, according to Textron spokesman Tom Williams. The company had leased the yard for the last 30 years, but decided to buy it after winning a Navy contract in April worth about $84 million. Textron also got a $213 million Navy contract in 2012 to build the next generation of ship-to-shore connectors military hovercraft. The company's military vehicle manufacturing plant in Slidell is currently under contract to produce 500 tactical armored patrol vehicles for the Canadian army. (Source: Times-Picayune 06/10/15)