Post-Holiday, Pentagon Slow to Return to Work Awarding Contracts

Rich Smith, The Motley Fool
Updated
Post-Holiday, Pentagon Slow to Return to Work Awarding Contracts

Showing that private sector workers aren't the only ones who have trouble "ramping back up" after a holiday, the Department of Defense eased back into its awarding of contracts the day after the July 4.

DoD issued a grand total of three -- yes, three -- contracts Friday, and one of those went to privately held TRI-COR Industries. As for the two contracts going to publicly traded companies, those were for:

  • $134 million: A cost-plus-incentive-fee modification to a previously awarded advance acquisition contract awarded to United Technologies to support Low Rate Initial Production Lot VI of the Joint Strike Fighter F135 Propulsion System -- that's the Pratt & Whitney engine that power's Lockheed's F-35 fighter jet. Engines included in this production "lot" are destined for the U.S. Air Force, Navy, and Marine Corps, as well as for the militaries of Italy, the U.K., Turkey, Australia, the Netherlands, Canada, Norway, and Denmark. UTC is expected to complete work on this contract by December 2015.

  • $10.8 million: Going to BAE Systems under a 56-calendar day, firm-fixed-price contract to perform dry dock work on the Military Sealift Command's dry cargo/ammunition ship USNS Carl Brashear (T-AKE 7). Optional work under this contract, if exercised by the Navy, could increase the value of this contract to as much as $12.3 million, and extend it past its expected Sept. 25, 2013 completion date.

The article Post-Holiday, Pentagon Slow to Return to Work Awarding Contracts originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Originally published