United Technologies Wins $183 Million Saudi Defense Contract
The Department of Defense awarded seven new defense contracts Friday, worth $591.3 million in total. United Technologies didn't win the biggest contract -- but it did win the second biggest.
More precisely, it was UTC subsidiary Goodrich Corp which won the day's second biggest contract, a $183 million firm-fixed-price contract action of as-yet indeterminate scope, to perform in-country setup and installation of ground stations for the Royal Saudi Air Force's DB110 Reconnaissance Systems.
Incorporating "pods" mounted on a combat aircraft, DB110 is a long-range sensor system that can capture images day or night to assist a pilot in tasks such as assessing damage from a missile strike. The system can also transmit these images to intelligence officers on the ground in real time.
Work under this contract is to be completed by July 23, 2021.
The article United Technologies Wins $183 Million Saudi Defense Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.