Pentagon Awards 11 Contracts on Friday
The Department of Defense awarded 11 contracts worth a combined $302.3 million Friday. Most went to smaller, privately held firms, but a few publicly traded companies won contracts as well. Among them:
- British defense contractor BAE Systems' Norfolk Ship Repair unit, which won $48.6 million in a contract modification extending (through December) the period for performing depot-level maintenance, alterations, and upgrades on the guided missile destroyer USS Laboon (DDG 58) while in drydock.
- Lockheed Martin's Mission Systems and Training division, which was awarded a $17.7 million cost-plus-fixed-fee foreign military sales contract to provide training materials, perform development and maintenance work, and provide various administrative services to Norway and South Korea in support of the U.S. Navy's Center for Surface Combat Systems. The contract is due to be completed by December 2015.
- Finally International Marine and Industrial Applicators, of Bremerton, Wash., won $7.9 million as a modification to a previously awarded indefinite-delivery/indefinite-quantity contract. This IDIQ contract authorized the purchase of long-lead-time materials necessary for maintenance work on U.S. Navy ships. This final contract should be complete by June 2014.
The article Pentagon Awards 11 Contracts on Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. 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.