Pentagon Awards $455 Million in Defense Contracts Monday
The Department of Defense announced 10 new defense contracts, worth $455.1 million in aggregate, Monday. The bulk of these funds -- $262 million and change -- went to privately held Pacific Unlimited to pay for a five-year contract for support of U.S. Navy, Air Force, and federal civilian agencies in Guam. But a handful of publicly traded companies also won contracts today. Among them:
- General Dynamics' Electric Boat division was awarded an $18.2 million contract modification for work on Navy planning yards for nuclear reactor plants, and also for work on associated portions of nuclear submarine propulsion plants. This work will now continue into September 2014.
- Navistar won a $7.3 million cost-plus-fixed-fee contract to pay for engineering, logistics, and other services related to upgrades on U.S. Army Mine Resistant Ambush Protected MaxxPro M1235A3 Dash vehicles. This contract will run through December 2014. It is similar both in scope and in size to a contract the company received last week.
- Rockwell Collins was awarded a $6.5 million option exercise for the purchase of AN/ARC-210(V) electronic radios and ancillary equipment, to be used in "a variety of aircraft."
- ViaSat won a $39.2 million contract modification to perform equipment upgrades on Multifunctional Information Distribution System-Low Volume Terminals, or MIDS-LVTs, for the U.S. Space and Naval Warfare Systems Command in a contract that will run through Dec. 31, 2016.
- BAE Systems was awarded an even larger MIDS-LVT contract modification -- this one worth $48 million -- to pay for systems engineering and integration work on of the terminals. BAE will be performing work for the United States, as well as for U.S. allies France, Italy, Germany, and Spain. Its work is not expected to be complete before March 2017.
The article Pentagon Awards $455 Million in Defense Contracts Monday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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