LITTON TO BUILD NEW DESTROYER.Byline: Chris Sieroty Staff Writer WOODLAND HILLS - Litton Ship Systems, a division of Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc., has been awarded a $338.2 million contract by the U.S. Navy to build a guided missile guided missile, self-propelled, unmanned space or air vehicle carrying an explosive warhead. Its path can be adjusted during flight, either by automatic self-contained controls or remote human control. destroyer, the company announced Tuesday. The contract to build the ship, a ``DDG DDG Guided Missile Destroyer DDG Deutsche Diabetes Gesellschaft DDG Deputy Director General DDG Drop Dead Gorgeous DDG Deutsche Dermatologische Gesellschaft (German Society of Dermatologists) 51'' Class Aegis destroyer, was awarded Friday, Litton spokesman Randy Belote said. Litton Ship Systems, which is headquartered in Pascagoula, Miss., and includes Litton Ingalls Shipbuilding Ingalls Shipbuilding is a shipyard located in Pascagoula, Mississippi, originally established in 1938, and is now part of Northrop Grumman Ship Systems. It is a leading producer of ships for the US Navy, and at 10,900 employees, the largest private employer in Mississippi. , LSS LSS Lutheran Social Services LSS Logistics Support System LSS Lean Six Sigma LSS Line Sharing Service (telecommunications, Australia) LSS Legal Services Society (Canada) LSS Law Students' Society Full Service Center, and Litton Avondale Industries in New Orleans, has already delivered 13 Aegis destroyers for the Navy. A 14th ship, the USS USS abbr. 1. United States Senate 2. United States ship USS abbr (= United States Ship) → Namensteil von Schiffen der Kriegsmarine Lassen, completed successful initial pre-delivery sea trials last month and will be commissioned by the middle of next year. The Navy plans a total of 57 ships, of which 51 have now been procured. ``The Navy's multiyear procurement approach has brought stability to the Aegis destroyer program, to our nation's shipbuilding industrial base, and to our company's business planning process,'' said Jerry St. Pe, executive vice president of Litton, in a statement. Analysts say the latest contract wasn't unexpected and should help the company's bottom line and offer continued employment to thousands of highly skilled workers. ``It certainly will provide continuity if nothing else,'' said Thomas Meagher, an analyst with BB&T Capital Markets. ``It certainly guarantees work in Pascagoula for a number of engineers, shipbuilders and others.'' Meagher described the Aegis destroyer as a ``mature program'' that would allow Litton ``to make decent money while providing quality product'' to the Navy. Aegis destroyers are 509.5 feet long, with a beam of 66 feet. The ships have four gas turbine engines that power the 9,238-ton ships to speeds in excess of 30 knots. The ships are designed to provide primary protection for the Navy's battle forces, and are equipped with weapons and helicopter support facilities, the company said. Based in Woodland Hills, Litton Industries Inc. reported annual revenue of $5.6 billion and more than 40,000 employees for the year ended July 31. Shares of Litton lost 31 cents, or 0.51 percent, to close Tuesday at $60.375 on moderate volume of 121,200 shares traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . |
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