Pentagon Awards $209 Million in Defense Contracts Thursday

The Department of Defense awarded seven defense contracts worth $209 million in combined value Thursday. Among the publicly traded companies winning contracts:

  • Reliance Steel (NYSE: RS  ) subsidiary Metals USA was awarded contract modification worth up to $99.2 million in exercise of the third and final one-year option period on a contract to keep the Defense Logistics Agency supplied with "various metal items" through Jan. 25, 2015.
  • BAE Systems' (NASDAQOTH: BAESY  ) (LSE: BA  ) Hawaii Shipyards division won a firm-fixed-price contract worth up to $37.4 million to perform maintenance and upgrades on the guided missile destroyer USS Chung Hoon (DDG 93) while it is in dry-dock through August 2014.
  • L-3 Communications (NYSE: LLL  ) was awarded a $17.6 million contract modification to provide the U.S. Navy with supplies and services associated with Surface Terminal Equipment for Hawklink Tactical Common Data Links (TCDL) and Vortex Mini-TCDL Shipset components in Littoral Combat Ship configurations as part of the Navy's Vertical Take-off and Landing Unmanned Aerial Vehicle Fire Scout MQ-8B/8C program. Work on this contract is now expected to be completed in December 2014.
  • Huntington Ingalls' (NYSE: HII  ) Newport News Shipbuilding division was awarded an unpriced contract action worth up to $9.8 million to begin accumulating parts necessary to supply the Navy with onboard repair parts for use aboard the nuclear-powered aircraft carrier USS Gerald R. Ford (CVN 78), currently under construction. This contract will conclude in September 2014.

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