5 Companies Win $74 Million in Pentagon Contracts on Friday
The Department of Defense ended the week with a bang (if you'll pardon the expression) on Friday, awarding no fewer than 29 separate contracts worth more than $951 million in aggregate. Publicly traded companies securing contracts included:
- United Technologies , which was awarded a $28.6 million delivery order to supply two F135-PW-100 conventional takeoff and landing ground test engines to the U.S. Air Force by June 30, 2014. This engine is used to power the F-35 Lightning II stealth fighter.
- General Dynamics , which won a $15 million contract to supply the U.S. Navy with an additional nine high-gain, high-sensitivity systems under the Surface Electronic Warfare Improvement Program, or SEWIP, Block 1B3 low-rate initial production program. SEWIP aims to improve Navy ships' defenses against anti-ship missiles. This contract is scheduled to be complete by March 2015.
- Northrop Grumman , awarded a $12.8 million to study ways to reduce in-flight refueling risk for the Navy E-2D Advanced Hawkeye airborne early warning aircraft. This contract runs through September.
- BAE Systems , awarded $9 million as an add-on to a cost-plus-award-fee contract to perform maintenance work and upgrades on the guided missile destroyer USS Gridley (DDG-101). Work should be completed by Oct. 9. Additional options on this contract could raise its value to $9.2 million and extend the contract length.
- Rolls Royce Group , which won an $8.4 million modification to a previously awarded firm-fixed-price contract to perform up to 11,020 additional flight hours' worth of engineering work on Marine Corps MV-22 Osprey tilt-rotor aircraft, through November, and in support of Operation Enduring Freedom.
The article 5 Companies Win $74 Million in Pentagon 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 General Dynamics and Northrop Grumman. 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.