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United Technologies Wins $550 Million Sikorsky Contract

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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.


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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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8/27/2015 4:01 PM
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