Raytheon Cleans Up, Wins 6 Separate Defense Contracts Worth $189 Million
The Department of Defense announced 37 new defense contracts worth a combined $1.82 billion on Thursday. Amazingly, one single defense contractor -- Raytheon -- won nearly one out of every six of them, including:
- $55.2 million: a contract modification to perform complete analyses of the Joint Precision Approach and Landing Systems (JPALS) and its system requirements, to develop a manufacturing and production strategy, conduct risk reduction activities, and manage and plan the JPALS program technical and business objectives. This work will continue through July 2015.
- $41.6 million: a contract modification to continue doing platform systems engineering work on the Ship Self Defense System MK 2 as part of the "CVN/Amphibious Modernization Advanced Capability Build 12/Technical Insertion 12" project. Raytheon will be working on this through September 2017.
- $40 million: a new indefinite-delivery/indefinite-quantity contract to make system improvements on the AIM-120D Advanced Medium-Range Air-to-Air Missile (AMRAAM) missile for the U.S. Air Force. This work is expected to be complete by March 31, 2015.
- $27.2 million: a sole-source, foreign military sales contract modification to supply the United Arab Emirates with spare parts for its AN/TPY-2 radar systems which are part of that nation's recently purchased Terminal High Altitude Area Defense (THAAD) missile defense system. The value of this contract has now climbed past $651 million. Raytheon will supply the spare parts by March 30, 2015.
- $12.9 million: a new firm-fixed-price, sole-source foreign military sales contract to supply 94 Identification Friend or Foe (IFF) AN/APX-114 Interrogators to the Royal Saudi Air Force by Sept. 29, 2017.
- And also, $11.7 million: a new firm-fixed-price, sole-source foreign military sales contract to supply Identification Friend or Foe (IFF) AN/APX-119 transponders to the Royal Saudi Air Force. These transponders are due for delivery a bit sooner -- July 31, 2017.
The article Raytheon Cleans Up, Wins 6 Separate Defense Contracts Worth $189 Million originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. 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.
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