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Pentagon Spends $100 Million on Helo, Osprey Parts, Among Other Things

The Department of Defense announced seven contract awards Thursday, totaling a nice, round $100 million. Contract winners included a handful of publicly traded firms, namely:

  • Textron (NYSE: TXT  ) and Boeing (NYSE: BA  ) joint venture Bell-Boeing Joint Project Office won $40 million in funding for the purchase of long-lead components needed to manufacture 19 MV-22 Osprey tiltrotor aircraft for the U.S. Navy. This contract will be completed by September 2016.
  • Huntington Ingalls (NYSE: HII  ) was awarded $9 million as a modification to a previously awarded contract to perform engineering and other work on DDG 51 guided missile destroyers for the Navy. This work will be completed by May 2014. 
  • Jacobs Engineering (NYSE: JEC  ) subsidiary Jacobs Technology received of an $8.5 million contract to provide engineering, logistic, data management, and other services for the U.S. Air Force through Nov. 15, 2013.
  • General Electric (NYSE: GE  ) was given a $7.6 million firm-fixed-price delivery order against a previously issued basic ordering agreement. These funds will be used to purchase "critical hard tooling" that GE will use to manufacture GE38-1B engines to be used aboard the CH-53K System Demonstration Test Articles Aircraft -- a new heavy lift helicopter being developed for the Marine Corps. GE will complete work related to this contract by November 2014.


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