Pentagon Hands Out $880 Million-Plus in New Contracts Tuesday
The Department of Defense issued 14 separate contract awards Tuesday, totaling just over $880 million in combined value. Among publicly traded U.S. defense contractors, a few of the notable winners were:
- Navistar , whose Defense division was awarded an $18.2 million increase funding for work on the Mine-Resistant, Ambush-Protected (MRAP) MaxxPro Survivability Upgrade. Tuesday's award brings the cumulative value of this contract to $152.3 million for Navistar.
- Raytheon's Integrated Defense Systems division, which won a $10.4 million contract modification to supply Radar Digital Processor Upgrade Kits for the PATRIOT anti-aircraft missile system, roughly doubling the size of the initial contract.
- Lockheed Martin , which won a $27.9 million indefinite-delivery/indefinite-quantity contract "with provision to issue cost-plus-fixed-fee, firm-fixed-price, cost-reimbursement-no-fee contract," hiring it to maintain software aboard Air Force C-5 Galaxy transport aircraft, to provide engineering support on same, and to draw up an emergency operational flight plan. Lockheed is expected to complete this work by June 20, 2016.
- Bell Helicopter Textron , which is being awarded $38.8 million to supply the Marines with two new Lot 10 AH-1Z "Viper" attack helicopters by this September.
- FLIR Systems , which won $42.6 million to supply an unspecified number of Hand Held Imager-Miniaturized Long Range (HHI-Mini LR) laser range finders to the Naval Surface Warfare Center by June 2018.
The article Pentagon Hands Out $880 Million-Plus in New Contracts Tuesday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin, Raytheon, and Textron. 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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