Pentagon Awards $858 Million in Defense Contracts Thursday
The Department of Defense announced 11 new defense contracts Thursday, worth $858.4 million in aggregate. Of these, the largest award went to oil company Hess , which won a firm-fixed-price requirements contract to supply electricity to the U.S. Army, Navy, Air Force, and federal civilian agencies in New Jersey, Pennsylvania, Maryland, and the District of Columbia through June 30, 2019. This "block purchase" of electric power is valued at up to $378.8 million.
Smaller awards went to:
- Raytheon , which won a $57.8 million firm-fixed-price contract to supply an unspecified number of tube-launched, optically tracked wireless guided missiles to the U.S. Army by Nov. 30, 2015
- Bell Helicopter Textron , which was awarded a $13.9 million option exercise instructing it to supply the U.S. Marine Corps with a single Flight Training Device for the AH-1Z Viper attack helicopter. Delivery is due in February 2017.
The article Pentagon Awards $858 Million in Defense Contracts Thursday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon Company and Textron. 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.