Pentagon Awards $4.95 Billion in Defense Contracts Friday
The U.S. Department of Defense ended the work week with a bang Friday, handing out awards for $4.95 billion in new work to government contractors in the form of 45 separate contracts. One single firm, Lockheed Martin, captured the bulk of the awards when it won a $3.9 billion missile defense contract -- but it wasn't the only winner.
- PAR Technology won an $85 million cost-plus-fixed-fee, non-option-eligible, non-multi-year contract to support unspecified "operations" for the U.S. Army.
- Mylan was awarded the first of seven potential option-year extensions on a one-year base contract to supply Army, Navy, Air Force, Marine Corps, and federal civilian agencies with epinephrine auto-injectors. The maximum potential value of just this first one-year option period is $62.6 million, and it will run through Sept. 26, 2014.
- A second health-care contract went to Johnson & Johnson , which was awarded its fifth (also out of a total potential seven) option-year extension, this time to supply "various medical and surgical products" to Army, Navy, Air Force, Marine Corps, and federal civilian agencies. The value of this option year is capped at $42.1 million, and the contract runs through Sept. 24, 2014.
- ABM Industries and two other companies were all named winners of a $17 million time-and-materials, option-eligible, non-multi-year multiple award, indefinite-delivery/indefinite-quantity contract to provide "operational contracting support for vital supplies, services and construction" to U.S. Central Command Acquisition Support Services.
- And finally, L3 Communications' Vertex Aerospace subsidiary was awarded an $11.8 million contract modification to maintain training systems for the U.S. Air Force through Sept. 30, 2014.
The article Pentagon Awards $4.95 Billion in Defense Contracts Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson and owns shares of Johnson & Johnson, L-3 Communications Holdings, 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.