Blackwater to get out of security business

MOYOCK, N.C. -- (07/22/08)-- Blackwater Worldwide says it's moving away from private security contracts, and focusing instead on other types of military contracts.

The contracts have earned the company hundreds of millions of dollars. But Blackwater executives say they've unfairly become a symbol for all contractors in Iraq. The company says it will no longer bid on security contracts, though it will continue guarding U.S. officials in Iraq for the time being.

Its future now lies in training, aviation and logistics areas. Blackwater has expanded its aviation division, offering airplane and helicopter maintenance and dropping supplies into hard-to-reach military bases.

Blackwater contractors are under investigation for their involvement in a shooting in Baghdad in September that left 17 Iraqis dead.

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