United Technologies Wins $550 Million Sikorsky Contract

The Department of Defense awarded 10 new defense contracts Thursday, worth $1.094 billion in total. One single company, United Technologies (NYSE: UTX  ) , took home half the dollar value.

United Tech's contract -- to be precise, a "modification" of a preexisting contract -- hires the company's Sikorsky Aircraft Corporation subsidiary to supply the U.S. Navy with 18 MH-60S and 19 MH-60R Sikorsky Seahawk helicopters for a total cost of $549.9 million. These funds will pay for the helicopters themselves, and also for necessary engineering, program management, systems engineering, and other related support for the helos. Funds will also be used to pay for procurement of parts needed to build additional Seahawks that will be purchased in future years.

The contract is expected to wind up by Dec. 31, 2015.


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: 2790127, ~/Articles/ArticleHandler.aspx, 8/21/2014 8:07:47 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