Pentagon Doles Out $121.1 Million in New Weapons Contracts
Sequester or no sequester, the Department of Defense continues to find money to pay for national defense -- and international defense, too. On Monday, the DoD announced a series of small (in defense contracting terms) contract awards to a handful of publicly traded companies.
- In the smallest award, L-3 Communications won $12.9 million as a modification to a previously awarded firm-fixed-price, indefinite-delivery requirements contract. Pursuant to it, L-3 will repair and, if necessary, overhaul, Navy TH-57 "Sea Ranger" helicopters. This contract is due for completion in June.
- Here and abroad, Raytheon's Missile Systems division won a $20.1 million modification to another indefinite-delivery/indefinite-quantity contract. Raytheon will be performing mission support and sustainment work on AIM-9X Sidewinder air-to-air missiles in the arsenals of Singapore, Australia, Denmark, Finland, Turkey, South Korea, Switzerland, Saudi Arabia, and Poland under the Foreign Military Sales program -- as well as for the U.S. Air Force and Navy. This contract runs through March 2014.
- General Dynamics' Land Systems was awarded $39.1 million via a firm-fixed-price foreign military sales contract to convert M1A2 main battle tanks (of its own manufacture) to the M1A2S configuration for Saudi Arabia. Estimated completion date: Jan. 31, 2014.
- Finally, United Technologies' Sikorsky Aircraft won a $49 million firm-fixed-price foreign military sales contract to perform engineering and configuration services on four (unspecified) utility helicopters for Saudi Arabia. This contract will be completed by Dec. 31, 2016.
The article Pentagon Doles Out $121.1 Million in New Weapons 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, L-3 Communications Holdings, and Raytheon. 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.