Pentagon Awards 9 Contracts Worth $1.3 Billion Wednesday

The Pentagon awarded a series of contractors a total of nine defense contracts Wednesday, worth a combined $1.3 billion.

Most of the funds awarded went to privately owned firms ranging in size from gigantic government contactor Bechtel all the way down to Standard Aero of San Antonio, Texas, owned by the United Arab Emirates' Dubai Aerospace Enterprise. But there were a few notable wins among publicly traded companies. For example:

  • Jacobs Engineering subsidiary Jacobs Technology was awarded a $14.4 million cost-plus-fixed -fee and cost-reimbursable contract to provide engineering and technology acquisition support services to the Air Force Life Cycle Management Center/PZM at several Air Force Bases. This contract should wrap up by Nov. 14.
  • Britain's BAE Systems won a pair of contracts, with its Information and Electronic Systems division being awarded $11.9 million for software work ordered by the Defense Advanced Research Projects Agency; and its Technology Solutions and Services division winning $37.8 million to provide engineering and technical services and supplies in support of the Naval Air Warfare Center Aircraft Division's Special Communications Requirements Division. This latter contract runs through next May.
  • Finally, SAIC won a bona fide blockbuster award when the Pentagon approved an eighth option year on a firm-fixed price, indefinite-delivery/indefinite-quantity contract for unspecified "maintenance, repair, and operations supplies" to be provided to various Army, Navy, Air Force, Marine Corps, and federal civilian agencies. According to the Pentagon, the value of this contract, which should be completed by May 18, 2014, could rise as high as $381 million.

The article Pentagon Awards 9 Contracts Worth $1.3 Billion Wednesday originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. 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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