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Pentagon Awards $388 Million in Defense Contracts Thursday

By Rich Smith - Mar 6, 2014 at 8:54PM

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General Electric, Textron, and L-3 Communications win awards.

The Department of Defense awarded 16 separate defense contracts Thursday, worth $388.2 million in total. Among the major publicly traded defense contractors winning contracts:

  • General Electric ( GE 1.60% ) won the day's largest award, a $79.7 million firm-fixed-price contract to repair 20 T-64 engine components used to power U.S. Navy CH-53D/E Sea Stallion and MH-53E Sea Dragon helicopters. GE will also provide manufacturing, engineering, and technical support to the U.S. Navy's Fleet Readiness Center East in Cherry Point, N.C., with the goal of improving monthly output. This contract will run through Sept. 30, 2015.
  • Textron ( TXT 1.94% ) won a $17.2 million firm-fixed-price, five-year requirements contract to supply the U.S. Air Force with up to 21 ICBM Flight MK 12A Mod 5F midsections over the course of a five-year ordering period running through March 5, 2020.
  • L-3 Communications ( LLL ) was awarded a $6.8 million option exercise to provide the U.S. Navy with Sea Shore Interface Installation, Highly Accelerated Life Test, and integrated logistics services in support of the Navy's Undersea Warfare Training Range, which is located off the coast of Jacksonville, Fla. This work is expected to be completed by May 2019.

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Stocks Mentioned

General Electric Company Stock Quote
General Electric Company
GE
$97.55 (1.60%) $1.54
Textron Inc. Stock Quote
Textron Inc.
TXT
$75.23 (1.94%) $1.43
L3 Technologies, Inc. Stock Quote
L3 Technologies, Inc.
LLL

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