Pentagon Awards $210 Million in Defense Contracts
The Department of Defense awarded only eight defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $210.4 million.
Among the publicly traded companies winning contracts:
- Fluor was awarded a $45.1 million contract modification exercising a second option to have the company support base operations at Naval Air Station, Jacksonville, Florida; Naval Station Mayport; Bureau of Medicine and Surgery; and Blount Island Command. Exercise of this option raises the value of the underlying contract past $132.1 million, and extends its duration through June 2015.
- NIITEK -- aka Non-Intrusive Inspection Technology and, according to S&P Capital IQ, a subsidiary of London's Chemring Group -- won a $26.1 million contract to support the Husky Mounted Detection System. This mobile vehicle includes a ground-penetrating radar, capable of detecting deeply buried mines and improvised explosive devices, and enables what the Pentagon terms "detection of underbelly attack explosive hazards during route clearance missions." NIITEK will spend 21 months on engineering and manufacturing development initially, followed by a 15-month period of low-rate initial production of Husky Vehicle Mounted Mine Detectors if all goes well with the first phase. The estimated completion date of this contract is June 22, 2017.
- Raytheon was awarded $14.9 million delivery order to complete an engineering change proposal to retrofit an infrared marker used in existing Advanced Targeting Forward Looking Infrared pods aboard U.S. Navy F/A-18 E/F fighter jets. Work on this contract should be complete by January 2016.
- Lockheed Martin was awarded a $12.2 million contract modification to support the TRS-3D Radar installation aboard the Port Hueneme "Test Ship" through December 2018. A decommissioned Spruance-class destroyer (the Paul F. Foster (EDD 964)), the Test Ship is a vessel that the Navy uses to demonstrate short-range weapon systems and other surface combat and weapon system projects under evaluation for deployment.
The article Pentagon Awards $210 Million in Defense Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Fluor, Lockheed Martin, and Raytheon Company. 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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