Pentagon Awards $804 Million in Defense Contracts Thursday
The Department of Defense announced 14 new defense contracts, worth $803.6 million in aggregate, on Monday. The vast majority of these funds -- potentially $633 million worth -- will go to privately held forklift supplier Easy Street JD&S LLC as a fixed-price with economic-price-adjustment contract for the procurement of "commercial type material handling equipment." But a small handful of publicly traded firms also won contracts, among them:
- Northrop Grumman was awarded a $39.2 million contract modification funding additional R&D work in support of integrated air missile defense systems through Sept. 30, 2015.
- Lockheed Martin was awarded a $19.8 million option exercise requiring it to retrofit fielded F-22 fighter jet mission training centers with out-the-window visual systems upgrades and night vision goggles capability. Work on this contract should be complete by Dec. 31, 2016.
- Trimble Navigation received a $12.8 million delivery order under a previously awarded Laser Leveling System (LLS) contract to supply and transport 33 LLS systems, to perform operator and maintainer training, and to perform other services relevant to the systems in question. Work on this contract should be completed by April 2018.
- Boeing was awarded an $8.3 million contract modification funding the replacement and/or refurbishment of production life limit tooling for use on Navy F/A-18E/F fighter jets and EA-18G electronic warfare aircraft.
- And General Dynamics' Electric Boat subsidiary was awarded a $7.1 million contract modification for work on the floating dry dock ARDM-4 at the Naval Submarine Support Facility, Naval Submarine Base, New London, Conn., through September 2014.
The article Pentagon Awards $804 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 General Dynamics, Lockheed Martin, and Northrop Grumman. 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.