L-3 Comms, Boeing Win Millions in Aircraft Maintenance Contracts
After a long holiday weekend, the Department of Defense finally got back to work Wednesday, awarding 19 separate defense contracts worth $449.3 million in combined value.
L-3 Communications won the largest of these awards, a $129 million contract modification that accounted for nearly 29% of all Pentagon funds on offer for the day. L-3 will perform maintenance and upgrades on U.S. Army C-12/RC-12/UC-35 fixed wing transport aircraft through Jan. 31, 2015.
Larger defense contractor Boeing won a smaller but similar award from the U.S. Navy. Boeing's $17.8 million firm-fixed-price, cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity delivery order contract calls on the airplane manufacturer to remanufacture and perform maintenance work on F/A-18 fighter jets under the Navy's F/A-18 A-F Depot Level Service Life Extension Program through September.
The article L-3 Comms, Boeing Win Millions in Aircraft Maintenance Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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