PROVIDENCE – Textron Inc., the maker of Cessna airplanes, said its Bell Helicopter unit will design and develop three Eagle Eye unmanned tilt-rotor aircraft for the U.S. Coast Guard under a three-year agreement.
The tilt-rotor craft takes off and lands like a helicopter and flies like an airplane, Textron said. The unmanned aircraft program ultimately calls for delivery of 69 aircraft and 50 ground control units valued at as much as $1 billion, the company said in a statement.
The agreement is part of the Coast Guard’s 30-year, $17 billion Deepwater Program to build and support a new generation of vessels and aircraft to replace the agency’s aging fleet. The term “deepwater” refers to operations 50 miles or more off the U.S. coastline.
Integrated Coast Guard Systems, a joint venture of Lockheed Martin Corp. and Northrop Grumman Corp., won the $17 billion Deepwater contract in June. Under the agreement, Bell Helicopter is a subcontractor of Lockheed’s Naval Electronics & Surveillance Systems unit. (Bloomberg News)
Bay Communications gets
funding for towers
PROVIDENCE – Bay Communications, LLC recently announced that it has obained private equity funding from Housatonic Partners for wireless communication tower development. The companies did not disclose the amount of funding.
Bay Communications, founded in Providence last year, will use the funding to build a series of towers throughout the Northeast.
“The nature of the tower industry today has created opportunities for the small privately held regional tower developers like Bay,” said Jim Riley, founder and CEO of Bay. Housatonic Partners is a Boston-based equity investment firm with over $275 million of capital under management.
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