Pentagon Awards $296 Million in Defense Contracts Friday
The Department of Defense awarded 15 new defense contracts Friday, worth $296.4 million in total. The majority of these contracts went to privately held firms supplying the military with everything from machine guns to jet fuel to contact lenses -- but a few publicly traded companies won contracts as well. Among them:
- Raytheon won a $36.8 million cost-plus-fixed-fee contract to supply the U.S. Army with second generation forward looking infrared (2GF) hardware and support services through July 3, 2015.
- United Technologies was awarded a $33.9 million option exercise on a previously awarded contract to remanufacture F-100-PW-100/200/220/220E/229 engine modules for F-15 fighter jets operated by the air forces of Chile, Egypt, Greece, Indonesia, Jordan, Taiwan, and Thailand. Work on this contract should be complete by April 22.
- Lockheed Martin was awarded a $13.2 million contract modification to continue planning yard support efforts for Littoral Combat Ships Nos. 1 and 3. This modification sets a final price on services provided in support of LCS 3, and adds payment for additional services related to LCS 1, and is expected to be completed by September.
- Boeing won a firm-fixed-price, sole-source contract worth up to $10 million funding "gap or transition coverage" of unspecified consumable items by the U.S. Navy and Air Force through May.
- General Dynamics' NASSCO shipbuilding division was awarded a $7.5 million contract modification paying for upgrades and maintenance work on the landing ship dock USS Carter Hall (LSD 50) while it is in drydock. Work on this contract should be completed by April 2015.
The article Pentagon Awards $296 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, Lockheed Martin, and Raytheon. 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.
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