Market Overview

Pentagon Expands List Of Contractors On $2.5 Billion U.S. Army Corps Of Engineers Project


The Department of Defense announced seven separate defense contracts on Monday, worth $130 million in total. These included wins by both Lockheed Martin Corporation (NYSE: LMT) and Boeing Co (NYSE: BA), which received, respectively:

  • A $7.1 million contract modification for Lockheed to supply the U.S. Navy with retrofit modification kits, installation, and labor for incorporation into certain F-35 stealth fighter jets, with the work to be completed by March 2018.
  • A new $15.8 million firm-fixed-price contract for Boeing to supply the Navy with horizontal stabilizers for unspecified aircraft, delivery due December 2016.

And that was the least interesting news of the day.

Related Link: Defense Contract Roundup: 5 'Hardware' Players Just Won Big

The big news was that the U.S. Army added ten companies to the list of firms entitled to bid against each other on a $2.5 billion Army contract first announced last August.

The contract, which concerns "procurement and installation of utility monitoring and control and similar systems" for the U.S. Army Corps of Engineers, appears to be aimed at reducing military power consumption, increasing reliability of power systems, and in general, energy efficiency.

Three firms -- Johnson Controls Inc (NYSE: JCI), Evergreen Fire Alarms and Federal Inc -- were named the original award-winners back in August.

Monday's news added Eaton Corp, Honeywell International Inc. (NYSE: HON), Siemens and several privately-held firms as new participants in the contract.


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