This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Northrop Grumman To Produce More Fire Scouts For U.S. Navy

Stocks in this article: NOC

SAN DIEGO, March 12, 2013 (GLOBE NEWSWIRE) -- The U.S. Navy has awarded Northrop Grumman Corporation (NYSE:NOC) a contract valued at more than $71 million to produce six additional next-generation Fire Scout unmanned helicopters. The Fire Scout endurance upgrade, designated the MQ-8C and based on Bell Helicopter's 407, will provide ship commanders with increased range, endurance and payload capacity over the current MQ-8B variant.

The Navy plans to purchase a total of 30 aircraft under a rapid development effort. Northrop Grumman is currently under contract to produce 14 Fire Scouts that are scheduled to begin deploying in 2014.

"This contract provides significant momentum for the work Northrop Grumman and its supply chain partners are doing to meet the Navy's requirements," said George Vardoulakis, vice president for tactical unmanned systems with Northrop Grumman's Aerospace Systems sector. "Our entire team is focused on delivering this game-changing capability on time, on cost and with unquestionable quality. Along with our industry partners – Bell, Rolls-Royce, Cubic and others – we are making significant progress in reducing cost, enabling us to achieve our affordability targets and provide the Navy with the absolute best value."

Manufacturing and assembly operations of the new Fire Scout variant are well under way across the country, with airframe modifications being made at Bell's facility in Ozark, Ala., and final assembly being completed at Northrop Grumman's Unmanned Systems Center in Moss Point, Miss.

Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cybersecurity, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

CONTACT: Joe Fleming
         858-618-6737 (office)
         516-528-8056 (mobile)
         joseph.fleming@ngc.com

Company Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs