Pentagon Awards $1.12 Billion in Contracts on Friday
The Department of Defense issued 29 new contracts Friday, worth a combined $1.12 billion. Among contracts benefiting the U.S. Navy, Lockheed Martin had the most, winning:
- A $75.7 million contract modification to fund redesign efforts on its F-35 Lightning II Low Rate Initial Production Lot VI Advance Acquisition contract. Lockheed is getting the extra funds to pay for redesigns to mitigate supply-chain risk on certain F-35 parts vulnerable to "diminishing manufacturing sources." This contract runs through December 2018.
- A $15.2 million "un-priced letter" contract financing long-lead material purchases needed for Trident II D5 Missile production in fiscal 2014 schedule. This one runs through Sept. 30, 2018.
Among the other winners:
- BAE Systems won a $31.8 million firm-fixed-price contract to supply the U.S. Navy and Israel with 29 MK 38 Mod 2 ordnance alteration kits, plus associated hardware and spare parts.
- Scientific Applications International Corp, better known as SAIC , won a $21.1 million indefinite-delivery/indefinite-quantity, firm-fixed-price contract to supply digital video surveillance system (DVSS) associated training sets, engineering services, support and spares to the Navy for installation aboard DDG 51-class guided missile destroyers. Delivery is due September 2018.
- General Dynamics' NASSCO shipbuilding division was awarded a $6.6 million contract modification to perform repairs and alterations on the guided missile frigate USS Kauffman (FFG 59) outside of drydock. NASSCO should complete its work by February 2014.
The article Pentagon Awards $1.12 Billion in Contracts on Friday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics and Lockheed Martin. 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 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.