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On Thursday, the Department of Defense announced that it has awarded United Technologies' (NYSE: UTX ) Pratt & Whitney Military Engines subsidiary a $65 million cost-plus-incentive-fee modification to a previously awarded advance acquisition contract.
Specifically, the Pentagon is ordering Pratt to perform labor and provide materials to maintain and repair the F135 propulsion systems that power F-35 fighter jets produced by Lockheed Martin (NYSE: LMT ) , and in use by the U.S. Marine Corps, Air Force, and Navy. Pratt will additionally perform fleet and material management, engineering services, and technical data updates.
These services are all attached to the Joint Strike Fighter (JSF) F135 Propulsion System Low Rate Initial Production (LRIP) "Lot VI" contract that Pratt was originally awarded. The additional work is expected to be complete in December 2013.