General Electric Wins Two Navy Contracts Worth $94 Million
General Electric landed a pair of Pentagon contracts Thursday, worth some $93.9 million in aggregate.
The smaller of the two awards, worth $6.9 million to GE's Aviation division, came in the form of a firm-fixed-price, sole-source contract to supply combustion chamber liners -- the lining that contains the explosion in an oil or gas furnace or engine -- to the U.S. Navy by December 2015.
The larger award, this one being for $87 million, exercises an option under a previously awarded firm-fixed-price contract to supply 22 Lot 17 full-rate production F414-GE-400 turbofan engines to power Navy F/A-18E/F "Super Hornet" fighter aircraft. This contract has a fulfillment date of October 2015.
The article General Electric Wins Two Navy Contracts Worth $94 Million originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company. 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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