Pentagon Awards $490 Million in Defense Contracts
The Department of Defense awarded 12 separate defense contracts in its Tuesday evening announcement of contract awards. The total value of contracts awarded came to $489.9 million.
L-3 Communications won the day's biggest award, a $151.4 million contract to handle maintenance and logistics for 200 U.S. Navy T-45 training aircraft through September 2015.
Among the other publicly traded companies winning contracts:
- Lockheed Martin won a contract funding the purchase of $20 million of long-lead materials and also labor, planning, and scheduling work necessary to support Trident II D-5 missile production for the U.S. Navy. This contract runs through Sept. 30, 2019.
- Honeywell was awarded a $12.9 million contract modification to upgrade electronics at eight Air Force Satellite Control Network sites under the Core Hybrid program. Vandenberg Tracking Station B-Side is the subject of the instant contract modification, and this modification funds work at the site through June 30, 2017.
- Booz Allen Hamilton won a $12.5 million contract to perform training, engineering, program and financial management, and other operations in support of the Royal Saudi Naval Forces through July 31, 2015. This contract may be extended through the exercise of options, in which case it could continue in force through July 31, 2017, and rise in value as high as $37.3 million.
- Northrop Grumman was awarded a $9.2 million option exercise to continue supporting the U.S. Air Force's Product Data Systems Data Management and Migration Support Program through Dec. 31.
The article Pentagon Awards $490 Million in Defense Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings, Lockheed Martin, and Northrop Grumman. 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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