Lockheed Wins Place in $4.1 Billion Pentagon Contract
Government shutdown or no, defense contractor Lockheed Martin is still raking in the contracts.
On Monday, Lockheed confirmed that it has won a place in an indefinite-delivery/indefinite-quantity contract worth up to $4.1 billion to supply communications and transmission systems to the U.S. Army's Project Manager of Defense Communications and Army Transmissions Systems. Under this contract, Lockheed will compete against other contract recipients for the right to complete "task orders" to supply the Army with satellite and terrestrial communications gear over the next five years.
Commenting on the contract win, Lockheed Martin Information Systems & Global Solutions vice president of Space & Cyber Robert Smith promised to supply the Army with "enhanced situational awareness and network connectivity to the Warfighter -- regardless of location."
Lockheed's partners on this contract will be Globecomm , Inmarsat, and Hughes Network Systems. Conversely, the company and its partners will be bidding for task orders against large rivals such as AT&T , General Dynamics , and L-3 Communications (NYSE: LLL) -- each of which was named as having won a place in this contract in a Department of Defense announcement late last month.
The article Lockheed Wins Place in $4.1 Billion Pentagon Contract 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 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.