"Generals" Win Defense Contracts Monday
The U.S. Department of Defense awarded a dozen defense contracts Monday, worth a combined $1.375 billion. Major defense contractors Lockheed Martin and Raytheon won the bulk of the awards, but they weren't the only winners. Included were:
- British defense contractor BAE Systems , which won a $7 million contract modification to fund additional repairs and alterations on the guided missile cruiser USS Vicksburg (CG 69) through September 2013.
- General Dynamics , whose Bath Iron Works subsidiary won a $9 million order to provide material and labor in support of "post-shakedown" work on the new littoral combat ship USS Independence (LCS 2). This contract runs through December 2013.
- General Electric , which won a $13.7 million contract to supply the Egyptian Air Force with Service Life Extension kits for integration into that nation's F110 fighter jet engines (used to power F-15 and F-16 aircraft). This foreign military sale should be complete by Oct. 31, 2013.
- Privately held General Atomics Aeronautical Systems won a $26.2 million contract to upgrade the range of Air Force Block 1 MQ-9 Reaper drone aircraft. This is a sole-source acquisition contract.
The article "Generals" Win Defense Contracts Monday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics, General Electric Company, Lockheed Martin, and Raytheon Company. 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.
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