Pentagon Awards $227 Million in Contracts Wednesday
The Department of Defense issued 10 new contracts Wednesday, worth roughly $227 million in total. The biggest award of the day, worth $88.7 million, was a contract modification awarded to Impax Laboratories in exercise of the second (of seven possible) option-year period on a previously awarded one-year base contract to supply U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies with "various pharmaceutical products." This contract runs through next Aug. 30.
Other contracts were significantly smaller in size. For example:
- The BAE Systems / Rockwell Collins joint venture Data Link Solutions won a $13.4 million contract modification to perform nine "line items" of repair work on the Multifunctional Information Distribution System Joint Tactical Radio System used by multiple military aircraft. Data Link is to complete this work by January 2017.
- Unmanned aerial vehicle maker AeroVironment won a $6.6 million firm-fixed-price, non-option-eligible, non-multi-year contract modification to supply Switchblade "agile munitions systems" (a.k.a. kamikaze drones), along with associated hardware and support services, to the U.S. Army. A similar but larger award for the same product was reported by AeroVironment itself late last month. The Pentagon did not clarify whether this latest contract is one of the "five orders" that AV reported itself last month, or additional thereto.
The article Pentagon Awards $227 Million in Contracts Wednesday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends and owns shares of AeroVironment. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.