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Pentagon Awards $249 Million in Defense Contracts

The Department of Defense awarded only eight defense contracts in its Tuesday evening announcement of contract awards. The total value of contracts awarded was $249.2 million.

Kollsman, which, according to S&P Capital IQ data, is a subsidiary of  Israeli defense contractor Elbit Systems (NASDAQ: ESLT  ) , won the day's biggest award -- a $56.9 million contract to repair four weapons-repairable assemblies that are part of the night targeting systems being upgraded on U.S. Marine Corps AH-1W SuperCobra attack helicopters. Kollsman will be performing these repairs as needed through July 2019.


U.S. Marine Corps AH-1W SuperCobra. Photo: Wikimedia Commons.

Among the other defense contractors winning contracts Tuesday:

  • Triumph Group (NYSE: TGI  ) won a $55.8 million contract to conduct repairs on U.S. Marine Corps MV-22 Osprey tiltrotor aircraft and U.S. Air Force CV-22 Osprey variants, as well. These repairs will continue through Sept. 30, 2019.
  • Britain's BAE Systems (NASDAQOTH: BAESY  ) (LSE: BA  ) was awarded a $20.5 million contract modification to perform additional maintenance and upgrades work on the guided missile destroyer USS Decatur (DDG 73) while it is in dry-dock on selected restricted availability through February 2015.
  • Lockheed Martin (NYSE: LMT  ) won an $11.3 million contract to supply production kits for Point and Click Operator System Interface and Link-16 retrofit programs upgrading U.S. Navy MH-60R/S Seahawk helicopters. This contract will run through August 2017.

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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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