United Technologies Wins $183 Million Saudi Defense Contract

The Department of Defense awarded seven new defense contracts Friday, worth $591.3 million in total. United Technologies (NYSE: UTX  ) didn't win the biggest contract -- but it did win the second biggest.

More precisely, it was UTC subsidiary Goodrich Corp which won the day's second biggest contract, a $183 million firm-fixed-price contract action of as-yet indeterminate scope, to perform in-country setup and installation of ground stations for the Royal Saudi Air Force's DB110 Reconnaissance Systems.

Incorporating "pods" mounted on a combat aircraft, DB110 is a long-range sensor system that can capture images day or night to assist a pilot in tasks such as assessing damage from a missile strike. The system can also transmit these images to intelligence officers on the ground in real time.

Work under this contract is to be completed by July 23, 2021.


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: 2800278, ~/Articles/ArticleHandler.aspx, 8/30/2014 12:15:56 PM

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