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Pentagon Awards $1.46 Billion in Defense Contracts Friday

By Rich Smith - Mar 28, 2014 at 11:00PM

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General Dynamics, General Electric, Airbus, Kaman, L-3, and Boeing all win contracts.

The Department of Defense worked overtime Friday, awarding 34 separate defense contracts in 24 hours. Valued at $1.46 billion in total, the contracts covered everything from aircraft, to anti-aircraft missiles, food service for servicemen and servicewomen. But among the more traditional "defense contractors" winning work:

  • General Dynamics ( GD 1.62% ) won a $74.6 million firm-fixed-price contract to develop, design, and deliver to the U.S. Marine Corps 916 Cougar egress upgrade kits for Force Protection-designed Mine-Resistant, Ambush-Protected vehicles (MRAPs). These kits include upgrades to MRAP front doors, rear doors, rear steps, and exhaust systems aimed at increasing the survivability of troops within. Work on this contract should be completed by September 2015.
  • Britain's Airbus was awarded a $34 million contract modification to supply the Royal Thai Army with six Lakota helicopters equipped with environmental control units, mission equipment packages, and airborne radio communication (ARC-231) radios,kk by April 3, 2015.
  • Kaman Corporation ( KAMN 0.90% ) was awarded a $41.6 million contract modification to produce 10,001 Lot 11 Joint Programmable Fuze systems for the U.S. Air Force by April 2016.
  • General Electric ( GE -2.58% ) won a $24.9 million firm-fixed-price contract to perform out-of-warranty repairs on F138 engines (used to power C-5A Super Galaxy aircraft) for the U.S. Air Force through March 31, 2016.
  • L-3 Communications ( LLL ) was awarded a $9.7 million contract modification to continue providing tier 1 service desk support to the U.S. Army in the National Capital Region through March 29, 2015.
  • Boeing ( BA -1.92% ) subsidiary Insitu was awarded $8.4 million firm-fixed-price delivery order to supply the U.S. Marine Corps with hardware (including spare parts) and services necessary to operate, maintain, and support previously procured RQ-21A Blackjack EOC unmanned aircraft systems. Delivery is due December 2014.

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Stocks Mentioned

General Electric Company Stock Quote
General Electric Company
GE
$92.77 (-2.58%) $-2.46
The Boeing Company Stock Quote
The Boeing Company
BA
$198.49 (-1.92%) $-3.89
General Dynamics Corporation Stock Quote
General Dynamics Corporation
GD
$197.63 (1.62%) $3.15
L3 Technologies, Inc. Stock Quote
L3 Technologies, Inc.
LLL
Kaman Corporation Stock Quote
Kaman Corporation
KAMN
$40.20 (0.90%) $0.36

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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