Pentagon Awards $803 Million in Defense Contracts Tuesday
Jan 14th 2014 8:39PM
Updated Jan 14th 2014 8:40PM
The Department of Defense awarded 10 new defense contracts Tuesday, worth $803.4 million in total. The majority of these funds went to privately held defense contractor Bechtel in the form of a $593 million contract to supply the U.S. Navy with nuclear-powered engine parts, but Bechtel wasn't the only winner. Among the publicly traded companies winning contracts:
- The BakerAECOM joint venture between privately held Michael Baker and AECOM Technology won a $60 million firm-fixed-price indefinite-delivery/indefinite-quantity foreign military sales contract to perform architectural and engineering services for U.S. Central Command through Jan 13, 2019.
- General Dynamics' Electric Boat subsidiary was awarded a $15 million cost-plus-fixed-fee contract to perform maintenance, modernization, and repair work on operational nuclear-powered submarines, floating dry docks, support and service craft, and plant equipment assigned to the Naval Submarine Support Facility in New London, Conn., through December.
- FLIR Systems subsidiary Agentase won an $11.2 million cost contract to support DARPA's in vivo Nanoplatforms program, which seeks to "develop new classes of adaptable nanoparticles for persistent, distributed, unobtrusive physiologic, and environmental sensing as well as the treatment of physiologic abnormalities, illness and infectious disease." Agentase will work on this project through at least April 14, 2015.
- Lockheed Martin was awarded an $8.9 million cost-plus-incentive-fee contract modification to produce "Technical Insertion 14" Integrated Submarine Imaging Systems (ISIS) and spare parts for the U.S. Navy. Lockheed's work on this contract should be complete by March 2017.
The article Pentagon Awards $803 Million in Defense Contracts Tuesday originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics and Lockheed Martin. 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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