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 Build MK54 Lightweight Torpedo Nose Arrays For U.S. Navy

Stocks in this article: NOC

ANNAPOLIS, Md., Aug. 14, 2013 /PRNewswire/ -- Northrop Grumman Corporation (NYSE: NOC) has been awarded a contract by the U.S. Navy for the production of acoustic nose arrays for the MK54 lightweight torpedo in support of Navy and foreign military sales requirements. The initial scope is for 428 nose arrays with a potential for as many as 3,000 over the life of the contract.

(Logo: http://photos.prnewswire.com/prnh/20121024/LA98563LOGO)

The $45.9 million firm-fixed-price, cost-plus contract includes options that, if exercised, would bring the cumulative value of the contract to $294.3 million.

"This contract represents the continuation of our proud torpedo heritage that dates back to World War II," said Tom Jones, vice president of Northrop Grumman's Undersea Systems business unit. "We are pleased to support the Navy's torpedo enterprise once again by providing this undersea warfare capability to the Navy and our international partners."

This contract includes MK54 torpedo nose arrays for the U.S. Navy, the Royal Australian Navy and the Indian Navy.

During the peak of the Navy's torpedo production from the late 1980s to the mid-1990s, Northrop Grumman produced more than 550 MK50 lightweight torpedoes along with 491 MK48 Advanced Capability (ADCAP) heavyweight torpedoes. Northrop Grumman was also a lead designer for the current MK48 ADCAP Mod 7 Common Broadband Advanced Sonar System upgrade in the early 2000s.

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

SOURCE Northrop Grumman Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

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