Pentagon Spends $961 Million on Poseidon Parts, Saudi Helo Trainers

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The Department of Defense awarded more than $961 million worth of contracts to a total of 17 awardees on Thursday. Notable awards to publicly traded companies included:

  • $74.2 million: Awarded to Science Application International Corp in exercise of the eighth option year period (through May 30, 2014) on a firm-fixed-price, indefinite-delivery contract to provide maintenance, repair, and supply services for the Hawaii and Guam region.
     
  • $53.6 million: Awarded to Boeing on a firm-fixed-price contract supply spare parts for the Low Rate Initial Production Lot III of Boeing's P-8A Poseidon Multi-Mission Maritime aircraft. This contract should be completed by June 2016.
     
  • $27.3 million: Split between General Dynamics and privately held Capco of Grand Junction, Colo.. This award covers the procurement of parts and tools to service M2A1 machine guns.
     
  • $8.1 million: Awarded to Rockwell Collins under a firm-fixed-price, indefinite-delivery/indefinite-quantity, multiyear, foreign military sales to support Longbow Crew Trainer Virtual Geospecific Database Suites for Saudi pilots of the Apache Longbow attack helicopter.
     
  • $8 million: Awarded to L-3 Communications as an indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee with provisions for firm-fixed-price orders, performance-based contract to supply and support proprietary L-3 communications equipment for the Coast Guard. This contract includes additional option years, which, if exercised, would bring the cumulative ceiling value of the contract to an estimated $24.9 million and would extend the period for performance through May 2016.

The article Pentagon Spends $961 Million on Poseidon Parts, Saudi Helo Trainers originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics and L-3 Communications Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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