Pentagon Awards $1.14 Billion in Defense Contracts
The Department of Defense announced 13 new defense contracts Wednesday, worth $1.14 billion in aggregate. One single company, Honeywell International, claimed roughly 44% of the funds on offer, but it wasn't the only winner among publicly traded defense contractors.
BAE Systems won a $195.4 million contract to supply the U.S. Army 19 Low-Rate Initial Production (LRIP) Paladin self-propelled Howitzers (SPH), 18 Carrier Ammunition Tracked (CAT) vehicles, 13 SPH Threshold 2 (T2) armor kits, 11 CAT T2 armor kits, and 37 lots of unspecified basic issue items. This contract will run through Feb. 29, 2016.
Exelis subsidiary EDO Corp. won a $13 million contract to supply the U.S. Navy and the Government of Spain with a total of 181 bomb rack unit 70/A digital improved triple ejector racks by March 2016.
Meanwhile, two separate L-3 Communications businesses, Communication Systems-West and its L-3 Coleman Aerospace, won a pair of defense contracts totaling more than $80 million in value:
- Communication Systems-West was awarded a $7.3 million option exercise instructing it to supply the Royal Australian Navy with 13 Common Data Link Hawklink AN/ARQ-59 radio terminal sets under a foreign military sales contract, for use aboard Australian MH-60R Seahawk helicopters. Delivery is due September 2014.
- L-3 Coleman Aerospace won a $73.4 million contract to develop and manufacture medium-range ballistic missile targets, and to provide integrated logistics support through the time of their use as targets for anti-missile defense system testing. This contract is expected to run through September 2018.
The article Pentagon Awards $1.14 Billion in Defense Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings. 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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