Word: underbidding
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...AMERICAN POLICY will be toughened up to double the price edge given some U.S. firms competing with foreign companies for Government contracts. Instead of the previous 6% differential, the Interior Department will award future contracts only to foreign firms that underbid U.S. companies in surplus labor areas by 12% or more. The Defense Department and General Services Administration, which do most of the business with overseas firms, will probably follow the new ground rules...
...received and it met specifications. Under ordinary circumstances, Defense Secretary Charles Wilson would have been required to accept the British bid. English Electric's offer was 16% ($964,000) below that of the lowest U.S. bidder, and U.S. purchasing officers must generally award contracts to foreign firms that underbid U.S. companies by at least...
Dallas' Tecon Corp., the lively youngster of the construction business that underbid older firms to get the Contractor's Hill job, expects to finish by Aug. 15, and to make a profit of between 30% and 40% on the $4,100,000 it will receive...
...were $5,900,000 in the first quarter of 1954 alone. Exports, meanwhile, have dwindled from a prewar average of 32% of total output to a scant 6%. Electrical equipment makers complain that overseas manufacturers, many of them helped directly or indirectly by Marshall Plan dollars, have consistently underbid U.S. firms on generators and transformers for Government power projects. The mining industry is also alarmed about foreign competition. A Senate committee reported that 85% of the U.S. stockpile of strategic and critical materials has come from abroad. In less than three years, the U.S. has spent $594 million to expand...
...designers and manufacturers of the twin-jet Canberra bomber being built under license in the U.S. by Glenn L. Martin Co., landed its second big U.S. hydroelectric contract in a year. The company, which previously won an order for transformers for the Chief Joseph Dam in Washington, underbid four U.S. firms for two generators for the new Mc-Nary Dam on the Columbia River. The bid: $3,651,476, some $600,000 under that of the nearest U.S. competitor, General Electric...