BAE Awarded $26.6 M for Propulsor Program

BAE Systems received a $26.6 million contract modification from the Naval Sea Systems Command (NAVSEA) to produce two additional units of the Virginia Class Propulsor. This award is an important step in strengthening BAE Systems' Propulsor manufacturing base in Louisville, Ky., following its move from Minneapolis. BAE Systems has already produced and delivered 11 Propulsor units to the U.S. Navy. "It is important to BAE Systems to demonstrate our commitment to cost, quality, and schedule to our valued Navy customer," said Mark Signorelli, vice president and general manager of Weapon Systems for BAE Systems. "Through multiple reviews and hard work by our team, we are reinforcing the high standards we've set for this product. We believe this award is a reflection of earned trust in our capabilities in Louisville." The award includes funding for the manufacture and delivery of fiscal year 2011 Propulsor units, long-lead material funding for fiscal year 2012 units, and associated spare hardware for the Virginia Class Submarine program.
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Source: BAE Systems PLC (LSE: BAES.L)
Date: Jun 23, 2011