Pentagon Awards 9 Contracts Worth $1.3 Billion Wednesday

The Pentagon awarded a series of contractors a total of nine defense contracts Wednesday, worth a combined $1.3 billion.

Most of the funds awarded went to privately owned firms ranging in size from gigantic government contactor Bechtel all the way down to Standard Aero of San Antonio, Texas, owned by the United Arab Emirates' Dubai Aerospace Enterprise. But there were a few notable wins among publicly traded companies. For example:

  • Jacobs Engineering (NYSE: JEC  ) subsidiary Jacobs Technology was awarded a $14.4 million cost-plus-fixed -fee and cost-reimbursable contract to provide engineering and technology acquisition support services to the Air Force Life Cycle Management Center/PZM at several Air Force Bases. This contract should wrap up by Nov. 14.
  • Britain's BAE Systems (NASDAQOTH: BAESY  ) won a pair of contracts, with its Information and Electronic Systems division being awarded $11.9 million for software work ordered by the Defense Advanced Research Projects Agency; and its Technology Solutions and Services division winning $37.8 million to provide engineering and technical services and supplies in support of the Naval Air Warfare Center Aircraft Division's Special Communications Requirements Division. This latter contract runs through next May.
  • Finally, SAIC (NYSE: SAI  ) won a bona fide blockbuster award when the Pentagon approved an eighth option year on a firm-fixed price, indefinite-delivery/indefinite-quantity contract for unspecified "maintenance, repair, and operations supplies" to be provided to various Army, Navy, Air Force, Marine Corps, and federal civilian agencies. According to the Pentagon, the value of this contract, which should be completed by May 18, 2014, could rise as high as $381 million.

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

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: 2434525, ~/Articles/ArticleHandler.aspx, 10/25/2014 10:48:58 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