Market Overview

Pentagon Awards $230.4 Million In Contracts To Boeing, General Electric & Others

Share:

The Department of Defense announced five separate defense contracts on Thursday, worth $230.4 million in total. Every single one went to a publicly traded company -- or one that's likely to become part of a publicly traded company.

Lockheed Martin Corporation (NYSE: LMT) was awarded a $7.9 million option exercise to produce two Low Cost Conformal Array (LCCA) production units, plus spares. The Pentagon notes: "The LCCA is a passive planar array mounted on the aft submarine sail structure that is integrated with the Acoustic Rapid COTS Insertion AN/BQQ-25 system to provide situational awareness and collision avoidance for improved tactical control in high density environments."

Delivery is due January 2017.

General Electric Company (NYSE: GE) was awarded a $29 million contract modification whereby it will supply the Navy with six T408-GE-400 test engines for use aboard CH-53K King Stallion cargo helicopters. Deliveries here are likewise due January 2017.

L-3 Communications Holdings, Inc. (NYSE: LLL) gets a $60.3 million contract modification to support maintenance of U.S. Army C-12 and RC-12 Huron, and UC-35 Citation fixed wing aircraft through July 31, 2015.

Boeing Co (NYSE: BA) won a $60.4 million cost-plus-incentive-fee contract to supply the Navy with six low rate initial production Infrared Search and Track (IRST) systems for use aboard F/A-18E/F Super Hornet fighter jets. Delivery is due August 2017.

And finally, US Foods -- soon to be acquired by SYSCO Corporation (NYSE: SYY) -- won the day's biggest award, a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract to supply up to $72.8 million worth of prime vendor food and beverage support to U.S. Army, Navy, Air Force, and Marine Corps bases through January 28, 2017.

Posted-In: News Contracts

 

Related Articles (BA + GE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Citron Research Exhorts Analysts To Upgrade GoPro As Stock Tumbles

NY March Coffee Down 3.2%