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Northrop Grumman Corporation secures USD40.2m marine design and engineering services deal with US Navy.

M2 EQUITYBITES-March 30, 2011-Northrop Grumman Corporation secures USD40.2m marine design and engineering services deal with US Navy(C)2011 M2 COMMUNICATIONS http://www.m2.com

Northrop Grumman Corporation (NYSE:NOC) reported on Tuesday the receipt of an agreement for marine design and engineering services in support of Puget Sound and Pearl Harbor Naval Shipyards (PSNS) and Intermediate Maintenance Facilities (IMF).

This contract was awarded by the US Navy to the company's subsidiary, AMSEC LLC, a provider of engineering, logistics and technical support services.

Upon exercise of all the options, the total value for AMSEC would be approximately USD40.2m.

Under the agreement, the work will be performed at AMSEC's locations in Kitsap County, Wash., Pearl Harbor Naval Shipyard, Hawaii, San Diego, Norfolk, Va., and other locations. The work is expected to be completed by March 2016.

The Fleet and Industrial Supply Center Puget Sound, Bremerton, Wash. is the contracting activity.

Additionally, the indefinite delivery, indefinite quantity, cost plus fixed fee contract contains a base period with four one-year option periods.

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Publication:M2 EquityBites (EQB)
Date:Mar 30, 2011
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