Pentagon Awards $1.37 Billion in Defense Contracts Wednesday
Nov 13th 2013 9:47PM
Updated Nov 13th 2013 9:48PM
The Department of Defense announced only seven new defense contracts Wednesday yet still managed to spend more than $1.37 billion in aggregate. The vast majority of Pentagon funding -- about 98% of it -- was spent on contracts to buy a variety of medical and surgical supplies from health care equipment vendors over a period of years. But a couple of more traditional "defense contractors" also won awards. To wit:
- ManTech International was awarded a $24.2 million option exercise from the U.S. Navy, instructing the defense contractor to continue providing warfare analysis and assessments, modeling and simulation services, and advanced concept development and acquisition analysis support for the Naval Air Systems Command's Warfare Analysis and Integration Department through next November.
- Meanwhile, Honeywell International was awarded a contract modification for work under the U.S. Air Force's Strategic Systems and Launch Technologies program. Honeywell will be performing additional work required to identify, test, and modify a design for a "radiation hardened loop closure Application Specific Integration Circuit for the Strategic Fiber Optic Gyro." This obscure piece of equipment appears to be used as part of the guidance mechanism on U.S. ballistic missiles -- and given the "radiation-hardened" part of the contract, on nuclear missiles in particular.
The article Pentagon Awards $1.37 Billion in Defense Contracts 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.