Honeywell Wins $550 Million Extension of Military Satellite Contract
The Department of Defense issued 27 new contracts Thursday, worth a combined $1.45 billion. Of these, the largest contract by far went to Honeywell .
Valued at $550 million, the contract awarded to Honeywell's Technology Solutions unit exercises a third option year on a pre-existing contract. Pursuant to this contract, Honeywell will provide system and maintenance engineering, network support integration, on-site and off-site depot level maintenance, and software maintenance for the U.S. Air Force's Satellite Control Network (AFSCN).
The Air Force describes AFSCN as the system whereby American military satellites are controlled in orbit. It comprises various satellite control centers, tracking stations, and test facilities around the globe, and is tasked with tracking satellites, receiving and processing data transmitted by satellites, and sending commands to the satellites. Honeywell won the contract to upgrade AFSCN in a competition in 2001, when it won control of the contract away from the previous contractor, Lockheed Martin.
The article Honeywell Wins $550 Million Extension of Military Satellite Contract 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
