Teledyne Among Three Winners of $350 Million NASA Contract
Subsidiaries of three California companies -- Santa Clara-based Radiance Technologies, Wyle Laboratories of El Segundo, and Teledyne of Thousand Oaks -- were announced as the winners of a $350 million performance-based, cost-reimbursement fixed-fee, indefinite-delivery, indefinite-quantity (IDIQ) contract from NASA on Monday.
The contract, for the provision of "engineering solutions and products to Marshall Space Flight Center in Huntsville, Ala.," encompasses multiple specific work orders that NASA will be farming out over the coming years, on which the three pre-approved contractors can bid against each other to win. Each single work order will be worth a minimum of $1 million, and the entire complement of work orders under the $350 million umbrella contract are to be completed within the next five years.
According to a NASA press release on the contract, the companies will be asked to bid on work designing, developing, testing, evaluating, operating, and training workers at the Center. Of the three winners, only Teledyne is a publicly traded company, winning its bid through its Teledyne Brown Engineering subsidiary based in Huntsville, AL, -- conveniently located right next to the Center in question.
The article Teledyne Among Three Winners of $350 Million NASA Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.