Pentagon Awards 11 Contracts on Friday

The Department of Defense awarded 11 contracts worth a combined $302.3 million Friday. Most went to smaller, privately held firms, but a few publicly traded companies won contracts as well. Among them:

  • British defense contractor BAE Systems' (NASDAQOTH: BAESY  ) Norfolk Ship Repair unit, which won $48.6 million in a contract modification extending (through December) the period for performing depot-level maintenance, alterations, and upgrades on the guided missile destroyer USS Laboon (DDG 58) while in drydock.
  • Lockheed Martin's (NYSE: LMT  ) Mission Systems and Training division, which was awarded a $17.7 million cost-plus-fixed-fee foreign military sales contract to provide training materials, perform development and maintenance work, and provide various administrative services to Norway and South Korea in support of the U.S. Navy's Center for Surface Combat Systems. The contract is due to be completed by December 2015.
  • Finally International Marine and Industrial Applicators, of Bremerton, Wash., won $7.9 million as a modification to a previously awarded indefinite-delivery/indefinite-quantity contract. This IDIQ contract authorized the purchase of long-lead-time materials necessary for maintenance work on U.S. Navy ships. This final contract should be complete by June 2014.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2408648, ~/Articles/ArticleHandler.aspx, 10/2/2014 12:56:51 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement