Pentagon Awards $209 Million in Defense Contracts Thursday
The Department of Defense awarded seven defense contracts worth $209 million in combined value Thursday. Among the publicly traded companies winning contracts:
Reliance Steel subsidiary Metals USA was awarded contract modification worth up to $99.2 million in exercise of the third and final one-year option period on a contract to keep the Defense Logistics Agency supplied with "various metal items" through Jan. 25, 2015.
BAE Systems' Hawaii Shipyards division won a firm-fixed-price contract worth up to $37.4 million to perform maintenance and upgrades on the guided missile destroyer USS Chung Hoon (DDG 93) while it is in dry-dock through August 2014.
L-3 Communications was awarded a $17.6 million contract modification to provide the U.S. Navy with supplies and services associated with Surface Terminal Equipment for Hawklink Tactical Common Data Links (TCDL) and Vortex Mini-TCDL Shipset components in Littoral Combat Ship configurations as part of the Navy's Vertical Take-off and Landing Unmanned Aerial Vehicle Fire Scout MQ-8B/8C program. Work on this contract is now expected to be completed in December 2014.
Huntington Ingalls' Newport News Shipbuilding division was awarded an unpriced contract action worth up to $9.8 million to begin accumulating parts necessary to supply the Navy with onboard repair parts for use aboard the nuclear-powered aircraft carrier USS Gerald R. Ford (CVN 78), currently under construction. This contract will conclude in September 2014.
The article Pentagon Awards $209 Million in Defense Contracts Thursday originally appeared on Fool.com.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings. 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 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.