Pentagon Awards $212 Million in Defense Contracts Monday
The Department of Defense awarded only eight defense contracts Monday, worth $212.2 million in total. Among the publicly traded companies winning contracts:
Cray was the big winner, notching a pair of contract modifications -- each worth $21.8 million -- paying the supercomputer-builder for high performance computing systems needed to conduct complex, large-scale scientific calculations. The first of these two contracts relates to computer work that Cray will be doing for the U.S. Air Force Research Laboratory DoD Supercomputing Resource Center at Wright-Patterson, Air Force Base in Ohio. The second relates to work for the U.S. Navy DoD Supercomputing Resource Center John C. Stennis Space Center in Mississippi. Each contract modification extends the period of its respective Cray contract through July 28, 2018.
Boeing was awarded a $42.2 million contract modification instructing it to supply aircraft armament equipment -- including jumper bundles, pylons, and bomb racks -- for installation aboard U.S. Navy F/A-18E/F fighter-bombers and EA-18G electronic warfare aircraft. This work should be completed by May 2018.
Lockheed Martin was awarded a $14.4 million contract modification funding the purchase of long-lead materials needed to build the GPS III satellites designated "space vehicles 07 and 08." Work on this contract will continue through June 2015.
The article Pentagon Awards $212 Million in Defense Contracts Monday originally appeared on Fool.com.
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 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.
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.