The U.S. Coast Guard has awarded Northrop Grumman Corporation (NYSE:NOC) a firm fixed-price contract for long-lead material procurement on a fifth National Security Cutter. The contract is for $89 million, with options that would increase potential value to $94 million. The funds will be used to purchase items such as main propulsion and navigation systems, generators, electrical switchboards, major castings and the ship's integrated control system. The work will be performed at the company's Pascagoula facility. [Read More]
Source: MarineLog
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