Pentagon Awards $382 Million in Defense Contracts Tuesday
The Department of Defense announced eight new defense contracts, worth $382.4 million in aggregate, on Tuesday. The biggest of these contracts, a $145.2 million contract modification, pays a consortium of several air carriers to provide international airlift services in support of U.S. forces. More traditional defense contractors winning contracts included:
- General Dynamics , whose information technology division won a $50 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to provide approximately 600,000 hours worth of integrated logistics services work supporting technical analysis and investigations of U.S. Foreign Military Sales Programs, whereby the U.S. government acts as intermediary between U.S. defense contractors and foreign governments interested in buying their wares. Countries that appear to be subject to these investigations include Australia, Egypt, Japan, Kuwait, Malaysia, and Taiwan. This contract will run through next November.
- Northrop Grumman , which won a sole-source, firm-fixed-price contract worth up to $37.5 million to supply weapons system outer wing panels for unspecified aircraft operated by the U.S. Navy. This contract runs through Nov. 31, 2017.
- BAE Systems' Land and Armaments subsidiary, which was awarded a $26.5 million option exercise to supply technical data and electronic technical manuals needed to operate Low Rate Initial Production units of the new Paladin Self-Propelled Howitzer under the Paladin Integrated Management program. Delivery is due Oct. 31, 2016.
The article Pentagon Awards $382 Million in Defense Contracts Tuesday 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 Northrop Grumman. 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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