Boeing Co. received a contract extension from NASA for work on the international space station that could be worth as much as $1.62 billion.
The basic contract extension is for two years and nine months, and is valued at $1 billion, NASA said. Four six-month options, if exercised, would increase the value by $620 million.
The space station is costing more money and taking longer to finish than expected because of the grounding of the U.S. space shuttle fleet after the loss of the shuttle Columbia in February, the General Accounting Office said in October.
Chicago-based Boeing’s shares fell 14 cents to $42.14 on the New York Stock Exchange.
From Bloomberg News