Pentagon Awards $314 Million in Defense Contracts Monday

The Department of Defense announced 10 new defense contracts on Monday worth $313.5 million in aggregate. Among the contracts issued were three smallish awards going to publicly traded companies -- and one award of considerably greater size.

The big contract of the day went to United Technologies subsidiary Sikorsky Aircraft, which was awarded a $77.5 million option exercise instructing it to supply the U.S. Army with seven UH-60M Black Hawk helicopters by June 30, 2015. As for the smaller contracts, they went to:

  • URS Federal Technical Services, which was awarded a fourth (out of four possible) one-year option extensions to a contract originally set for one year in length. URS will continue to assist the U.S. Defense Logistics Agency with unspecified "material distribution" work (receipt, storage, and issuance) in Maryland and Florida through Dec. 31, 2014.
  • Raytheon Space and Airborne Systems, which won a $9.1 million order under a basic ordering agreement to prepare for Multispectral Targeting System (MTS)-B High Definition/Target Location Accuracy (HD/TLA) Production Readiness -- confirming that the contractor is prepared to begin full-rate production of MTS-B HD/TLA turret units by Oct. 31, 2014.
  • The Bell Boeing Joint Project Office, a joint venture between Textron and Boeing , was awarded a $9.2 million option exercise instructing it to perform four Block A to B 50-69 series upgrade installs for U.S. Navy V-22 aircraft by September 2015.

The article Pentagon Awards $314 Million in Defense Contracts Monday originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon and Textron. 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.


Increase your money and finance knowledge from home

Introduction to ETFs

The basics of Exchange Traded Funds and why ETFs are hot.

View Course »

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum