Britannia may no longer rule the waves, but its defense contractors are helping America's Navy to rule what lies beneath. On Monday, Britain's BAE Systems (NASDAQOTH:BAESY) announced that it has won a three-year, $80 million contract to perform maintenance work on U.S. Navy submarine torpedoes "and other weapon systems."
BAE says six local subcontractors will also assist the Navy on this contract, which was let by the Naval Undersea Warfare Center Keyport Division in Washington state.
BAE did not state specifically what tasks it will perform as part of the contract, but it did note that its Keyport site "provides life-cycle systems support services for the Heavyweight and Lightweight Torpedo, and for information assurance and submarine" towed array sonar systems.
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