NASA May Terminate Contract For New Spacesuit And Rebid It
Friday August 15th, 2008 / 20h09
By Bob Sechler Of DOW JONES NEWSWIRES Oceaneering International Inc.'s (OII) contract to develop a next-generation spacesuit for the National Aeronautics and Space Administration may be terminated and rebid after NASA determined that "corrective action is appropriate" in the contract award. The development comes about a month after Hamilton Sundstrand, NASA's lead spacesuit contractor, protested the decision to award the contract for development of the new suits to a team led by Oceaneering International. The contract is valued at an initial $184 million for design and development through September 2014, although subsequent options could add up to $562 million to the total through 2018. Last month, Hamilton Sundstrand, a unit of United Technologies Corp. (UTX), asked the Government Accountability Office, a watchdog agency, to review NASA's reasons for going with Oceaneering. "NASA anticipates that corrective action will involve reconsideration of its procurement decision," the space agency said in a prepared statement Friday. It said the issue "requires termination of the contract ... for the convenience of the government." Still, a spokesman said Friday that it's unclear at this point if the contract will be terminated and rebid, although that's NASA's recommendation to the GAO. Representatives of neither Oceaneering International nor Hamilton Sundstrand could immediately be reached for comment. Shares of Oceaneering International were trading recently at $56.42, off 1.4%. United Tech shares were up 63 cents at $66.75. -By Bob Sechler, Dow Jones Newswires; 512-236-9637; bob.sechler@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=0%2BM6J14yZkB1AcUymkkuJA%3D%3D. You can use this link on the day this article is published and the following day.
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