Military
Pentagon Awards $583.4 Million in Defense Contracts
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The Department of Defense awarded 13 defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $583.4 million.
Among the publicly traded companies winning contracts:
Roche Holdings (NASDAQOTH: RHHBY) subsidiary Genentech USA was awarded the first of seven possible one-year-long option periods on a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract to supply various pharmaceutical products to the U.S. Army, Navy, Air Force, Marine Corps, and federal civilian agencies. This option exercise extends Roche’s contract through at least May 19, 2015, and increases the underlying contract’s value by as much as $56.6 million.
Interpublic Group (NYSE: IPG) subsidiary Campbell-Ewald was awarded a $55.4 million contract modification funding additional advertising and marketing services in support of U.S. Navy recruiting efforts at the Navy Recruiting Command, Millington, Tenn. This contract extends the underlying contract through at least January 2015, and envisions as many as four subsequent, one-month-long option periods. If exercised, these options could extend the contract’s duration into May 2015 and increase its total value to as much as $85 million.
Jacobs Engineering (NYSE: JEC) won a $21.5 million sole-source, cost-plus-fixed-fee and cost-reimbursable contract to perform engineering and technology acquisition support services for the U.S. Air Force at Hanscom Air Force Base in Massachusetts, Lackland AFB in Texas, Maxwell AFB in Alabama, and Wright-Patterson AFB in Ohio. This work should be completed by Dec. 31.
BAE Systems‘ (NASDAQOTH: BAESY) Norfolk Ship Repair subsidiary was awarded a $12.4 million contract modification funding maintenance and upgrades work on the guided missile destroyer USS Mason (DDG 87) through October.
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