Northrop Grumman awarded $176M Air Force contract option |
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Published
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Fri, 30 Nov 2007 23:20
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SAN FRANCISCO (Thomson Financial) - Northrop Grumman Corp. said late Friday the U.S. Air Force awarded the company a 23-month, $176 million contract in October to continue the full-rate production phase of the intercontinental ballistic missile propulsion replacement program.The award is the seventh and final full-rate production option under a 10-year, $1.9 billion contract that began in 1999. Under the option,Northrop Grumman will deliver 56 motor sets, for a total of 601 under the contract.Shares of Los Angeles-based Northrop Grumman closed the regular session up 2.2% at $78.79.Gabriel MadwaygmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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