Pentagon Announces $263 Million in New Contracts Thursday
The U.S. Department of Defense awarded 11 new contracts Thursday, worth just under $263 million in aggregate. Among the publicly traded companies winning contract work:
- Exelis won a firm-fixed-price, sole-source contract to supply the U.S. Air Force with "spare parts for core memory units," in a deal valued at up to $7.9 million.
- Rolls-Royce was awarded $22.4 million to perform maintenance work on KC-130J aircraft propulsion systems for the Navy.
- Siemens' Medical Solutions USA subsidiary won a $28.2 million "first option period" exercise following a two-year base contract in which the U.S. Defense Logistics Agency hired it to do work on a digital imaging network-picture archive communication system.
- And Raytheon Missile Systems was awarded a sole-source, cost-plus-fixed-fee contract "action" worth $57.2 million to work on upgrades and provide engineering support on Standard Missile-3 Block IIA. DoD notes that the total value of the underlying SM-3 IIA contract is now just shy of $1.6 billion.
The article Pentagon Announces $263 Million in New Contracts Thursday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of 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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