Pentagon Awards $876.5 Million in Defense Contracts
The Department of Defense awarded 14 defense contracts in its Tuesday evening announcement of contract awards. The total value of contracts awarded was $876.5 million.
Among the publicly traded defense companies winning contracts:
- Henry Schein won the biggest award of the day, a contract to supply the U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies with up to $348 million worth of "a wide range of general dental supplies." This contract will run over the course of an initial 15-month base period, to be potentially followed by up to three one-year options and one eight-month option subsequently. The initial contract period will be completed on Oct. 31, 2015.
- Lockheed Martin was awarded a contract modification, not to exceed $101.9 million in value, to perform certain non-recurring engineering and sustainment work on mission systems software and autonomic logistics development for the F-35A Conventional Take Off and Landing (CTOL) fighter jet for the government of Israel under the Foreign Military Sales Program. Hardware and pilot training will also be provided under this modification, with completion of the contract scheduled for April 2015.
- Raytheon was awarded a $38.4 million contract modification to perform engineering and technical work on Standard Missile-2 (SM-2) and Standard Missile-6 (SM-6) missiles for the U.S. Navy, designed to ensure continuity in production, design integrity, and total systems integration of the missiles and their components. Additional customers to be served under this contract include the governments of Australia, Germany, Japan, Korea, Spain, Taiwan, and the Netherlands. Completion of this work is scheduled for December 2015.
- Rockwell Collins was awarded a $20 million contract modification to perform software coding and security work on the military Global Positioning System for the U.S. Space and Missile Systems Center through Aug. 31, 2015.
- Huntington Ingalls was awarded a $12.2 million option exercise to perform follow yard services (FYS), including engineering, technical, material procurement and production support work on U.S. Navy DDG 51-class guided missile destroyers. This work will continue through May 2015.
The article Pentagon Awards $876.5 Million in Defense Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Raytheon Company. 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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