Pentagon Awards $145 Million in Defense Contracts
The Department of Defense awarded nine defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $144.7 million.
Among publicly traded companies, L-3 Communications won two separate contracts:
- A $22.2 millioncontract to extend the service lives of four U.S. Navy Landing Craft Air-Cushioned, or LCACs, under a service life extension program. Originally designed to last 20 years, these LCACs will be refurbished to extend their usefulness out to 30 years, including by replacing obsolete electronics, repairing corrosion damage, and improving the vessels' reliability, maintainability, and survivability. This work should be completed by October 2016.
- A $13.8 million contract to do similar service life extensions on two more Navy LCACs. The upgrades to be performed under this second contract are similar to those in the first, but its completion date is sooner -- June 2016.
Two other companies won one contract apiece:
- Northrop Grumman won a $7.9 million contract to render non-personal information technology support to the U.S. Army Regional Cyber Center-Europe (RCC-E)/U.S. Army 5th Signal Command for an unspecified period.
- Bimbo Bakeries USA, America's largest bakery company and a subsidiary of Mexico's Grupo Bimbo , won a contract to supply the U.S. Army and Air Force with up to $8.8 million worth of fresh bread and bakery products through Oct. 14, 2017.
The article Pentagon Awards $145 Million in Defense Contracts originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings 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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