Textron and Northrop Grumman Win Multiple Defense Contracts
The Department of Defense awarded 19 separate defense contracts Thursday, worth $6.64 billion in total.
Textron won two of them:
- A $59.7 million contract modification funding the purchase of long-lead items needed to manufacture and deliver 15 new Lot 12 UH-1Y Venom utility helicopters and 11 new Lot 12 AH-1Z Viper attack helicopters for the U.S. Marine Corps. Work on this contract should be complete by September 2015.
- An $11.4 million option exercise under which Textron will provide systems engineering and program management support for the production and delivery of these helicopters for the Marine Corps. This second contract will run through only December 2014.
And Northrop Grumman won two more:
- A $20.2 million contract modification to provide the U.S. Army with logistics services related to Hunter unmanned aircraft systems (i.e. drones) through March 30, 2015.
- A $13.7 million contract modification to perform "sustaining engineering services" for Air Force ICBMs through Sept. 30, 2014.
The article Textron and Northrop Grumman Win Multiple Defense Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Northrop Grumman and Textron. 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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