General Dynamics Wins $303 Million in New Defense Contracts
With each passing day, it seems, the Department of Defense is breaking new records for spending. On Thursday, the Pentagon set its fourth such record of the week, announcing a staggering 86 separate contract awards worth $7.55 billion.
Of these contracts, General Dynamics won four; in descending order, the values were:
- $255.5 million: a firm-fixed-price contract to support the Program Manager for Crew-served Weapons by supplying M2A1 Abrams main battle tank quick-change barrel (QCB) kits to the U.S. Army and other services.
- $25.7 million: a firm-fixed-priced contract to perform maintenance and upgrades on the nuclear fast attack submarine USS Providence (SSN 719) while it is in drydock. This work should be complete by April 2014.
- $13.3 million: a contract modification to fund materials and labor needed to complete work on the deckhouse for the lead vessel of the Navy's newest and most advanced class of guided missile destroyers, the USS Zumwalt (DDG 1000). This work should be complete by June 2014.
- $8.6 million: an option exercise on a foreign military sales contract for the supply of Hydra rockets to the Netherlands.
The article General Dynamics Wins $303 Million in New Defense 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. 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.