Pentagon Awards $676 Million in Defense Contracts Friday
The Department of Defense announced 15 new defense contracts worth a combined $675.9 million Friday. Among the publicly traded companies winning contracts:
- General Dynamics won a $115 million cost-plus-incentive-fee, cost-plus-fixed-fee, and fixed-price-incentive contract to do engineering, development, and production work on United States and United Kingdom Trident II Strategic Weapons Systems, SSBN (nuclear-powered ballistic missile submarines) Fire Control Subsystems (FCS) and SSGN (nuclear-powered guided missile submarines) Attack Weapons Control Subsystems, as well as to perform continued engineering and trade studies on common missile compartments for both types of subs. This contract is expected to run through March 31, 2016. However, a single option-year extension may be exercised, in which case, the completion date would be extended by a year, and the value would be raised to nearly $217.7 million.
- Boeing was awarded a $59.6 million contract modification to perform on-orbit support, factory reach-back, maintenance, and storage work related to the Air Force's GPS IIF satellites through Dec. 31, 2014.
- SAIC was awarded a $14.4 million option exercise to provide technical and engineering services to the Naval Air Systems Command's Air Vehicle Engineering Department and Manned Flight Simulator/Air Combat Environment Test and Evaluation Facilities. SAIC will be working on advanced air vehicle technology for evaluating aircraft flying qualities and controllability, developing simulation software, and building prototype simulations. This work will continue through December 2014.
- Raytheon was awarded a $6.9 million contract modification to support deployment and troubleshooting on the Taiwan Surveillance Radar program through Nov. 8, 2017.
The article Pentagon Awards $676 Million in Defense Contracts Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics 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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