Lockheed, General Dynamics, and Rolls-Royce Win Pentagon Contracts
The Department of Defense awarded a round dozen defense contracts Friday, worth just under $7.2 billion in aggregate. The bulk of the contracts -- $7 billion worth -- were split among eight small privately held firms scattered around New Jersey, Maryland, Indiana, and Virginia contracted to supply software and systems engineering services in support of the Army's Software Engineering Center. But a handful of better-known -- and, more importantly to investors, publicly traded -- companies won contracts as well. Namely:
- Lockheed Martin won $29.4 million as a modification to a previously awarded contract to develop and integrate Acoustic Rapid Commercial-Off-The-Shelf (COTS) Insertion (A-RCI) devices for the U.S. Navy's submarine fleet. A-RCI is a sonar system that integrates and improves towed array, hull array, sphere array, and other ship sensor processing through rapid adoption of readily available hardware and software. Lockheed's work on this contract should conclude by December.
- General Dynamics was awarded a firm-fixed-price multi-year foreign military sales contract for $24.5 million to purchase MARK(MK)80 General Purpose Bomb Bodies for supply to Australia, Saudi Arabia, and Iraq.
- Rolls-Royce won a $6.9 million modification to a previously awarded firm-fixed-price contract to provide for 10 low-power repairs to be performed on AE1107 turboshaft engines for the Air Force variant of the CV-22 Osprey tiltrotor aircraft. Work on this contract should be completed by next February.
The article Lockheed, General Dynamics, and Rolls-Royce Win Pentagon Contracts 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 Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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