WATERBORO, Maine (AP) - A Rhode Island-based defense contractor plans to purchase a Maine robotics company.
The Portland Press Herald reports Textron is expected to complete a deal to buy Howe and Howe Technologies by December. Terms of the deal weren’t disclosed.
The Waterboro-based company develops autonomous off-road vehicles. One of their vehicles was featured in the movie “Mad Max: Fury Road.”
Company president Michael Howe says the purchase will enable operations to expand. Howe says that added resources will make the firm more competitive for military contracts.
The U.S. military plans to buy the company’s Ripsaw Super Tank. Howe and Howe is also competing for a contract to build a platoon-carrying vehicle for the army.
Textron said in a statement the purchase will help the contractor compete globally.
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Information from: Portland Press Herald, http://www.pressherald.com
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