Coleman Aerospace, a subsidiary of Aerojet Rocketdyne (NYSE: AJRD), has secured a $140.1M contract modification to supply six medium-range ballistic missile targets and perform related engineering services to the Missile Defense Agency.
The modification exercises an option under a previously awarded contract and increases the total contract value to $506.5M, the Department of Defense said Thursday.
MDA is obligating $22.5M at the time of award from the agency's fiscal 2019 research, development, test and evaluation funds.
Work is scheduled to commence this month and will continue through December 2027.
The original contract was awarded before L3 Technologies (NYSE: LLL) sold Coleman Aerospace to Aerojet Rocketdyne.