Pentagon Awards $1.34 Billion in Defense Contracts Friday

The Department of Defense announced 12 new defense contracts Friday, worth $1.34 billion in total. The vast majority of these funds went to the Institute for Defense Analysis, an Alexandria, Va.-based, federally funded institution that conducts R&D work for DoD. But a small handful of publicly traded companies also won contracts. Among them:

  • AAR's (NYSE: AIR  ) AAR Airlift Group was awarded a $151.6 million contract modification exercising option year four on a task order to supply the U.S. Air Force with helicopters and necessary personnel, equipment, tools, and maintenance materiel for the purpose of performing passenger and cargo air transportation. The extended contract will now run through Oct. 31, 2014.
  • Cubic (NYSE: CUB  ) won a $25 million firm-fixed-price foreign military sales contract to supply the governments of Morocco, Oman, Saudi Arabia, and Singapore with P5Combat Training Systems, used to train pilots in combat proficiency in counter air operations, close air support, strategic attack, air interdiction, and electronic combat. This contract should be complete by July 20, 2015.
  • L3 Communications (NYSE: LLL  ) was awarded a $22 million third option-year exercise on a contract to provide logistics support to U.S. Air Force C-12 transport aircraft. The extended contract will now run through Oct. 31, 2014.

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.

DocumentId: 2710605, ~/Articles/ArticleHandler.aspx, 7/25/2014 12:49:02 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