Military
Textron, Lockheed Martin Win Pentagon Contracts
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The Department of Defense awarded 14 defense contracts in its Friday evening announcement of contract awards. The total value of contracts awarded was $642.8 million.
Bell Helicopter Textron Inc. (NYSE: TXT) won the day’s biggest award, a $337.8 million contract modification assigning a firm value to a previously awarded advance acquisition contract to build and deliver to the U.S. Marine Corps one dozen Lot 11 new UH-1Y Venom utility helicopters and one dozen new Lot 11 AH-1Z Viper attack helicopters. The modification sets a fixed-price incentive for delivery of the aircraft and establishes a firm fixed price for delivery of the helicopters’ auxiliary fuel kits. Delivery of the helicopters should be completed by June 2017.
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Lockheed Martin Corp. (NYSE: LMT) was the day’s second-biggest winner, claiming two contract wins:
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