Pentagon Awards 9 Contracts Worth $791 Million
The U.S. Department of Defense wrapped up the workweek Friday with the announcement of nine new contracts, worth more than $791 million in total. A series of tech firms took the big prize, a near-half-billion-dollar contract to revamp the U.S. Army's enterprise business systems. But there were smaller winners as well. Among them:
- A joint venture between Europe's Thales and Raytheon won an $83.5 million firm-fixed-price, multiyear contract to supply the Army with spare parts and components for its radar systems, and to make repairs thereon, on an as-needed basis.
- Northrop Grumman was awarded a cost-plus-fixed-fee, multiyear contract worth up to $17.2 million to repair and calibrate certain "secondary items" in support of its Integrated Family of Test Equipment. IFTE is a series of systems used by the U.S. Army to test its electronic and electro-optic weapons devices, such as missile systems, vehicles, and aircraft.
- Lockheed Martin's Space Systems unit won $9.6 million to install, test, accredit, certify, and deliver nuclear weapons security system equipment to U.S. Navy Installations. Optional extensions on this work could increase the contract's value to $10.9 million and extend the period for performance through March 31, 2016.
- General Dynamics' Bath Iron Works shipbuilding division won $7.5 million as a modification to a previously awarded task order for engineering and other "post-shakedown" work on the littoral combat ship it built, the USS Independence (LCS 2). General Dynamics is to complete this work by March 2014.
The article Pentagon Awards 9 Contracts Worth $791 Million 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, Northrop Grumman, and Raytheon. 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.