Pentagon Awards $2.2 Billion in Defense Contracts Friday
The Department of Defense announced 37 new defense contracts Friday worth a combined $2.2 billion in total value. Among the publicly traded companies winning contracts were the following:
- Britain's BAE Systems won a firm-fixed-price contract worth up to $32.9 million to perform regular maintenance and overhaul work on the fast combat support ship USNS Supply (T-AOE 6) through at least October 2014. This contract includes two optional extensions, which, if exercised, would raise the value of the contract to $42.5 million in total and extend its duration as well.
- L-3 Communications won a $37.6 million firm-fixed-price contract to supply the U.S. Army with 122 Transmission Operational Reliability HMPT 800-horsepower transmissions by Nov. 30, 2015. The Army has an option to take 58 additional units.
- Huntington Ingalls subsidiary AMSEC LLC won a $45.8 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract to provide engineering services, maintenance, and operator training and technical and repair support for U.S. Navy aircraft carriers through December 2014.
- In what could turn out to be one of the day's largest awards, the J. Walter Thompson subsidiary of advertising giant WPP won an undefinitized contract action not to exceed $170 million in value, whereby it will support recruiting programs for the U.S. Marine Corps Recruiting Command's Advertising and Recruitment Services Program through Dec. 19, 2014. This contract contains optional extensions, which could push its completion date out to June 19, 2015.
The article Pentagon Awards $2.2 Billion in Defense Contracts Friday 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 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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