ITT Earns $1.4B Logistics Deal With U.S. Army

COLORADO SPRINGS, Colo. (AP) — Defense contractor ITT Corp. announced that it has received a U.S. Army contract worth up to $1.4 billion to support Army facilities in Kuwait.

The one-year contract includes four one-year options. It would be worth $1.4 billion if all options are exercised.

The contract calls for ITT to provide logistics, security, transportation, life support and facilities services at three bases and other installations. The work will be done by ITT's Systems business unit, based in Colorado Springs, Colo.

ITT said this represents the fourth major facilities operations contract it has received this year.

ITT shares rose 22 cents to close at $47.93.