Pentagon Awards $1.45 Billion in New Contracts Thursday
The Department of Defense issued 27 new contracts Thursday, worth a combined $1.45 billion. The majority of these contracts went to privately held firms for such mundane tasks as construction, fuel systems inspection and cleaning, and hospital housekeeping. Among the contracts to publicly traded firms were:
- General Electric's GE Aviation Systems division won a $20.2 million contract modification to fund the purchase of 240 FPU-12/A 480-gallon external fuel tanks for use on Navy F/A-18 E/F fighter jets and EA-18G electronic warfare aircraft. Delivery is to be completed by January 2016.
- Raytheon won a $19.4 million contract for work in Military Imaging Surveillance Technology-Long Range (MIST-LR) Technical Area 2, in which it will research advanced computational imaging techniques for beyond-the-diffraction-limit imaging. This work will continue through Feb. 20, 2015.
- Textron's Bell Helicopter unit was awarded an $18.8 million option exercise to supply one UH-1Y Venom utility helicopter to the U.S. Marine Corps by December 2015.
- Boeing won a maximum $8 million contract to supply the Defense Logistics Agency, Aviation, with tail rotor heads.
- Rolls-Royce won a $6.7 million contract modification to perform 434 engine flight-hours' worth of maintenance, and also 10 low-power repairs on MV-22 Osprey tiltrotor aircraft for the U.S. Marine Corps through November 2013.
The article Pentagon Awards $1.45 Billion 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 General Electric Company, Raytheon Company, 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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