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Boeing Lands $106.2 Million in New Pentagon Contracts

Sunday - 3/17/2013, 5:45am  ET

On Friday, the Department of Defense awarded Boeing two contracts worth a combined $106.2 million.

The first, and by far the larger, contract awards Boeing $99 million in the form of a "firm-fixed-price, cost-plus-fixed-fee and indefinite-quantity/indefinite-delivery contract" to supply the Air Force with Joint Direct Attack Munitions. As an IDIQ contract, these munitions (actually, guidance kits affixed to bombs) will be ordered on an as-needed basis, with Boeing getting paid as specific orders are fulfilled between now and the contract's expiration on Jan. 31, 2016.

The second, and smaller, contract, for $7.2 million, is a firm-fixed-price modification of an existing contract for the provision of logistics support for Apache Block III attack helicopters. Work on this contract is due to be completed Nov. 30, 2014.

This article was originally published as Boeing Lands $106.2 Million in New Pentagon Contractson Fool.com

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