Honeywell Wins Defense Contract Worth Up to $502 Million

The Department of Defense announced 13 new defense contracts Wednesday, worth $1.14 billion in aggregate. And yet, one single company -- winning just one single contract -- will collect nearly half the funds on offer. That company is Honeywell International (NYSE: HON  ) .

Honeywell's contact, a contract worth up to $502.4 million, calls on the company to supply spare parts to support various weapon systems including aircraft, engines, helicopters, and related hardware. The contract begins with an initial five-year base period of operation that runs through Oct. 29, 2018, and may be extended (and increase in value) with the exercise of a subsequent four-year-long option period.

Contracting customers include the U.S. Army, Navy, Air Force, and Marine Corps locations in Arizona, North Carolina, California, Indiana, Ohio, Michigan, and New Mexico.

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