Pentagon Spends $100 Million on Helo, Osprey Parts, Among Other Things

Textron, Boeing, Jacobs, Hunington Ingalls, and General Electric all receive contracts.

Rich Smith
Rich Smith
May 17, 2013 at 12:27PM

The Department of Defense announced seven contract awards Thursday, totaling a nice, round $100 million. Contract winners included a handful of publicly traded firms, namely:

  • Textron (NYSE:TXT) and Boeing (NYSE:BA) joint venture Bell-Boeing Joint Project Office won $40 million in funding for the purchase of long-lead components needed to manufacture 19 MV-22 Osprey tiltrotor aircraft for the U.S. Navy. This contract will be completed by September 2016.
  • Huntington Ingalls (NYSE:HII) was awarded $9 million as a modification to a previously awarded contract to perform engineering and other work on DDG 51 guided missile destroyers for the Navy. This work will be completed by May 2014. 
  • Jacobs Engineering (NYSE:JEC) subsidiary Jacobs Technology received of an $8.5 million contract to provide engineering, logistic, data management, and other services for the U.S. Air Force through Nov. 15, 2013.
  • General Electric (NYSE:GE) was given a $7.6 million firm-fixed-price delivery order against a previously issued basic ordering agreement. These funds will be used to purchase "critical hard tooling" that GE will use to manufacture GE38-1B engines to be used aboard the CH-53K System Demonstration Test Articles Aircraft -- a new heavy lift helicopter being developed for the Marine Corps. GE will complete work related to this contract by November 2014.