Foreign Firms Land 3 Pentagon Defense Contracts

After taking Monday off, the Department of Defense's acquisitions specialists got back to work today, awarding 18 separate defense contracts Tuesday, worth a total of $4.22 billion.

Foreign-listed companies made out particularly well in this latest round of contract awards, with contracts being awarded to:

  • Hikma Pharmaceuticals (LSE: HIK  ) subsidiary West-Ward Pharmaceuticals, which was awarded the first of nine possible one-year long "option" exercises on a contract to supply "various pharmaceutical products" to the U.S. Army, Navy, Air Force, and Marine Corps. This option exercise will be worth up to $70.9 million to Hikma and will run through at least Feb. 26, 2015.
  • Bayer AG (NASDAQOTH: BAYRY  ) subsidiary Bayer Healthcare Pharmaceuticals, which won a similar option-year extension (the second of seven possible) on a contract to supply "various pharmaceutical products" to the U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies. The value of Bayer's option is put at up to $49.4 million, and its contract will now run through at least March 5, 2015.
  • DRS Tactical Systems, a subsidiary of Italy's Finmeccanica (NASDAQOTH: FINMY  ) , which won a $12.6 million firm-fixed-price contract to supply the U.S. Army with improved platform integration kits for M777A2 115mm and M119A3 105mm howitzers. Deliver is due Feb. 27, 2019.

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: 2863999, ~/Articles/ArticleHandler.aspx, 11/25/2014 6:30:53 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