Boeing Wins Border Protection Contract and Army Awards General Dynamics $12M Deal
Defense industry alert provided by U.S. Equity News. Boeing Co. (NYSE:BA), the world's largest aerospace company, won a $67 million federal contract Thursday to install a high-tech "virtual fence" along the Mexican border in Arizona. The contract -- less than half the $150 million list price of a single Boeing 787 jet -- calls for cameras, sensors and even unmanned planes to be placed on a 28-mile stretch of border near Tucson, Ariz. The U.S. Army on Thursday announced a contract modification worth $8.2 million to Raytheon Co. (NYSE:RTN) for engineering services support for the Patriot missile program. Contract work is expected to be completed by Jan. 9, 2009. Shares of Raytheon fell 69 cents to end at $47.05 on the New York Stock Exchange.
The U.S. Army on Thursday awarded a delivery order worth about $12.2 million to a business unit of General Dynamics Corp. (NYSE:GD) for an engineering change on a signals-intelligence system. The pact, awarded to General Dynamics C4 Systems in Scottsdale, Ariz., is part of a $76.4 million contract. Work on the new order will be performed in Scottsdale, and is expected to be completed by Aug. 31, 2008, according to the Army. Emergency Disaster Systems, a U.S. BioDefense (OTC BB: UBDE) subsidiary, announces that this past weekend's "Operation Get Your Kit Together" through TalkRadio 790 KABC was a success in raising money for local charitable organizations. Those benefiting from the proceeds raised by this event include Camp Pendleton and 29 Palms Severely Wounded Warrior Center, the Education Fund for Children of Camp Pendleton Marines who have lost a mother or father in Iraq, and the blind and disabled in Los Angeles and Orange Counties.
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Source: U.S. Equity News (September 22, 2006 - 10:30 AM EST)
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