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Meggitt wins multi-million-dollar supply contract with US jet maker

Meggitt has won a contract with Textron to install fire protection systems in two types of Cessna planes

cessna denali
Cessna is one of several brands owned by Textron

Aerospace and defence engineer Meggitt PLC (LON:MGGT) has won a “multi-million dollar” supply contract with US jet and helicopter maker Textron Inc (NYSE:TXT).

Under the terms of the deal, Meggitt will install fire protection systems in two types of Cessna planes: the Denali and Skycourier.

READ: Meggitt profits down 6%, Brexit contingency adds to drop in cash flow

Meggitt will begin installing its systems in the aircraft later this year.

Chris Allen, President of Airframe Systems at Meggitt, said: "Meggitt has a longstanding relationship with Textron and we value the trust they have placed in us to deliver world-class fire protection systems."

After opening lower, Meggitt was up 0.3% to 514.4p by mid-morning trading on Tuesday.

Quick facts: Meggitt PLC

Price: 629.6 GBX

LSE:MGGT
Market: LSE
Market Cap: £4.89 billion
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