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Pentagon Pays Millions for Training, Drones, and Dredging

Friday - 5/24/2013, 3:16am  ET

The Department of Defense awarded more than $456 million worth of contracts Thursday. Publicly traded companies receiving contracts included:

  • Orion Marine Group , which won a firm-fixed-price contract for up to $7 million to perform dredging services for the U.S. Army Corps of Engineers in Concordia Parish, La.
  • Boeing drone-building subsidiary Insitu, awarded a $7.9 million delivery order to perform maintenance work on ScanEagle Unmanned Aerial Systems through September 2013.
  • BAE Systems (NASDAQOTH: BAESY), awarded a $15.4 million modification to a previously awarded contract to supply propulsor systems for Virginia-class nuclear fast-attack submarines. Delivery is to take place by May 2015.
  • L-3 Communications , which won a sizable $53 million indefinite-delivery requirements contract to provide logistics support for Navy TH-57 Sea Ranger utility helicopters. L-3 will perform repairs and/or overhaul of aircraft, engines, avionics, and related components as required, through June 2014. 
  • Cubic Corporation , winner of a $75.8 million contract modification on a previously awarded cost-plus-award-fee contract to provide Army combat training in support of the Joint Readiness Training Center at Fort Polk, La. DoD noted that the cumulative value of the underlying contract has exceeded $680 million as the result of this add-on.

This article was originally published as Pentagon Pays Millions for Training, Drones, and Dredgingon Fool.com

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