Pentagon Awards $1.31 Billion in Contracts Thursday
The Department of Defense announced only nine new defense contracts on Thursday, but it still managed to spend $1.31 billion. Among the publicly traded companies winning defense work:
- Textainer Group Holdings won a $16 million indefinite-delivery-requirements-type, fixed-price with economic-price-adjustment contract to assist the U.S. Transportation Command Directorate of Acquisition with program management, and with the leasing, transportation, and repair of intermodal equipment through Sept. 30, 2017.
- Exelis was awarded an $11.5 million option exercise to support center base logistical operations at the U.S. Army's Fort Rucker in Alabama through Dec. 16, 2014. This contract appears to reside with the Exelis division that the company intends to spin off next summer.
- Verizon Communications was awarded an $11.1 million sole-source contract modification to provide an additional six months' worth of "Defense Research and Engineering Network II" telecommunication services in support of the U.S. Defense Information Systems Agency's High Performance Computing Modernization program office. This contact will now run through June 18, 2014.
- Science Applications International Corp was awarded a $10 million, one-yearlong option exercise on a contract to care for and train marine mammals through Dec. 31, 2014 as part of the U.S. Navy's Navy Marine Mammal Program (NMMP ).
- And finally, United Technologies subsidiary Simmonds Precision Products was awarded a $7.9 million option exercise to supply the U.S. Navy with eight MH-60S integrated mechanical diagnostic systems (IMDS) production A1 kits, 27 IMDS integrated vehicle health and management units and data transfer units, 17 MH-60S IMDS retrofit kits, 19 MH-60R IMDS Troy kits, and 19 MH-60R IMDS production A1 kits -- all for use on Sikorsky Seahawk helicopters. Delivery is due in December 2015.
The article Pentagon Awards $1.31 Billion in Contracts Thursday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Textainer Group. 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.