Department of Defense Opens Checkbook, Spends $6.6 Billion on New Contracts
The Department of Defense started the week off with a bang Monday (if you'll pardon the expression). Across a field of 20 contracts awarded, the Pentagon laid out plans to spend nearly $6.6 billion in total contracts. A few of the publicly traded companies winning awards included:
- OM Group , whose subsidiary EaglePicher Technologies subsidiary won a $7.1 million firm-fixed-price contract to supply thermal lithium battery high-speed anti-radiation missile control section replacement thermal batteries to the U.S. Air Force by October 2016.
- Navistar , which was awarded an $8.9 million contract to service Mine Resistant Ambush Protected vehicles in the field.
- CACI subsidiary CACI Dynamic Systems, awarded a firm-fixed-price contract worth up to $14.2 million for acquisition support services in Afghanistan, Kuwait, and Qatar.
- Motorola Solutions , awarded a firm-fixed-price contract worth up to $16.9 million to perform land mobile radio support services work in Kuwait.
Larger contracts were also handed out. For example, Raytheon won a not-to-exceed-$23.8 million contract modification to continue phase 2 work on dual band radar systems aboard the nuclear aircraft carrier USS Gerald R. Ford through November 2014. And Northrop Grumman was awarded $83.9 million for unspecified "logistic support services to supply and maintenance operations" in California.
The article Department of Defense Opens Checkbook, Spends $6.6 Billion on New Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of 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.