Pentagon Signs $170 Million Worth of Contracts
On Tuesday, the Department of Defense announced a number of smallish (in defense industry terms) contracts awarded to several publicly traded companies. Among these:
- British defense contracting giant BAE Systems won a $66 million Foreign Military Sales contract. BAE will supply AN/AAR-57 Common Missile Warning Systems (CMWS) to the militaries of the United Arab Emirates and Saudi Arabia. CMWS is a system designed to notify the pilot/driver of an aircraft/vehicle when it has been targeted by a heat-seeking missile, and to identify the source of the threat. This contract is to be completed by March 6, 2015.
- United Technologies' Sikorsky Aircraft unit won a contract for $45.3 million to supply helicopter hub rotors. This contract runs through March 5, 2018.
- Raytheon was awarded a $26.9 million contract to supply "tube-launched optically tracked wireless-guided missiles" for the U.S. Marine Corps. The completion date here is Dec. 31, 2015.
- General Dynamics' Land Systems division landed a $19.9 million Foreign Military Sales contract modification, funding continued training services and contractor logistics support services in Iraq. This contract expires Sept. 30, 2013.
- Lockheed Martin was awarded $12 million to provide "interim contractor support" for the AN/TPQ-53 counterbattery radar system. Similar to the AN/AAR-57 system BAE is supplying to our Gulf allies, AN/TPQ-53 detects indirect fire (think artillery or mortar rounds), and identifies the source of the fire so that allied forces can quickly target the offending artillery unit. Completion date: Sept. 30, 2013.
The article Pentagon Signs $170 Million Worth of Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics, 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.