Northrop to Upgrade Navy Ship

The deal, valued at $1.94 billion, is for work on the U.S.S. Carl Vinson.
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Northrop Grumman

(NOC) - Get Report

signed a contract with the Navy worth around $1.94 billion for the refueling and overhaul of the aircraft carrier U.S.S. Carl Vinson.

The company will refuel the ship's reactors and upgrade more than 2,300 compartments and hundreds of systems. In addition, nearly 3,000 valves will be replaced and another 600 will be overhauled in various ship systems.

Northrop said the project is scheduled to last more than three years. The carrier was built at Northrop's Newport News facility and christened in 1980. The ship was commissioned by the Navy in 1982.

Shares of Northrop were adding 21 cents to $57.46.