Seven separate office equipment manufacturers will share in a near-half-billion-dollar defense contract to supply the U.S. Army with commercial-off-the-shelf multi-functional devices, the Pentagon announced Thursday.
Just one of 21 new defense contracts handed out today, the $498 million firm-fixed-price, multiple award task order contract was awarded to Canon , Lexmark , and Xerox , as well as foreign-listed firms Konica Minolta and Ricoh, and two other privately held firms.
Pursuant to the contract terms, these seven firms will bid against each other to win individual task orders under the umbrella contract, drawing funds from the overall $498 million pot. Equipment to be supplied under the contract, including "accessories, associated consumable supplies, maintenance, and repair services," will be used to "integrate, modernize and refresh the Army's base architecture while providing standardized interfaces."
The article Pentagon Awards Contract for $498 Million Worth of Copy Equipment originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.