Pentagon Spends $100 Million on Helo, Osprey Parts, Among Other Things
The Department of Defense announced seven contract awards Thursday, totaling a nice, round $100 million. Contract winners included a handful of publicly traded firms, namely:
- Textron and Boeing joint venture Bell-Boeing Joint Project Office won $40 million in funding for the purchase of long-lead components needed to manufacture 19 MV-22 Osprey tiltrotor aircraft for the U.S. Navy. This contract will be completed by September 2016.
- Huntington Ingalls was awarded $9 million as a modification to a previously awarded contract to perform engineering and other work on DDG 51 guided missile destroyers for the Navy. This work will be completed by May 2014.
- Jacobs Engineering subsidiary Jacobs Technology received of an $8.5 million contract to provide engineering, logistic, data management, and other services for the U.S. Air Force through Nov. 15, 2013.
- General Electric was given a $7.6 million firm-fixed-price delivery order against a previously issued basic ordering agreement. These funds will be used to purchase "critical hard tooling" that GE will use to manufacture GE38-1B engines to be used aboard the CH-53K System Demonstration Test Articles Aircraft -- a new heavy lift helicopter being developed for the Marine Corps. GE will complete work related to this contract by November 2014.
The article Pentagon Spends $100 Million on Helo, Osprey Parts, Among Other Things originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company, Huntington Ingalls Industries, and Textron. 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.