Northrop Grumman Receives $224M Navy Shipyard Services Contract

northrop Grumman_BLUENorthrop Grumman (NYSE: NOC) has received a potential $223.6 million contract to perform equipment repairs, logistics support, technical documentation and performance evaluation at U.S. Navy shipyards.

The company will work to update missile launcher subsystem components and supply other hardware and spare and repair parts to the U.S. and U.K., the Defense Department said Wednesday.

Northrop will also install a new laser-based launcher initiation system into the firing circuit and refresh missile hoists.

The contract consists of a one-year base period and four option years.

Northrop will perform work in California, Washington, Georgia, Missouri and Florida through Sept. 30, 2020, if the Navy exercises all options.

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