The Department of Defense announced 12 new defense contracts Thursday, worth $974.9 million combined. One single company -- Boeing (NYSE: BA ) -- captured more than two-thirds of the funding on offer, mainly by virtue of its winning the single biggest contract of the day.
This award, a $617.7 million contract modification, calls for Boeing to remanufacture 22 CH-47F Chinook helicopters, and build six more, for the U.S. Army. The contract modification also includes funding "long-lead" funding to acquire parts needed to remanufacture a further 13 Chinooks. These helicopters are expected to be delivered by December 31, 2020.
In other news, Boeing also won a new $43.2 million cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity partial-foreign military sales contract to provide engineering and technical field services training for U.S. Navy and Marine Corps military and civilian personnel -- and also Kuwaiti military personnel. The subject of the training will be on how to install, operate, and maintain equipment on AV-8B Harrier jumpjets, EA-18G electronic warfare aircraft, and F/A-18 fighter-bombers. Boeing's work on this contract will run through December 2018.