Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
The Department of Defense announced nine new defense contracts on Thursday worth $1.31 billion. Northrop Grumman (NYSE: NOC ) didn't win the biggest of these contracts. That honor went to Boeing. But Northrop did win the third-largest award -- a $112.9 million firm-fixed-price, cost-plus-incentive-fee, cost-plus-fixed-fee contract for work on the Trident II (D5) Underwater Launcher System and Advanced Launcher Development Program.
This contract has Northrop providing ongoing support for TRIDENT II (D-5) underwater launcher subsystems installed aboard nuclear-powered ballistic missile submarines (SSBNs) and guided missile submarines (SSGNs), as well as supporting refueling operations, procurement of spare parts, launcher trainer support, and other support operations. In particular, Northrop will perform technical engineering work in support of the Advanced Launcher Development Program and the Common Missile Compartment Concept Development and Prototyping effort for the U.S. and U.K. navies.
The expected completion date for this work is Sept. 30, 2018.