Pentagon Awards $249 Million in Defense Contracts

Winners include Elbit Systems, BAE Systems, Lockheed Martin, and Triumph Group.

Jun 18, 2014 at 11:05AM

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 has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Jun 12, 2015 at 5:01PM

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