27th May 2016 09:29
LONDON (Alliance News) - Defence contractor BAE Systems PLC on Thursday said it has secured two contracts worth a total of USD61.7 million to handle repair and maintenance on two US Navy ships in Jacksonville, Florida.
The two contracts are worth USD61.7 million initially and could be worth up to USD68.6 million if all options are exercised.
The work will cover the Arleigh Burke-class destroyer USS Farragut and the Whidbey Island-class dock landing ship USS Fort McHenry. Work on the Farragut is expected to be completed by January 2017, while work on the Fort McHenry is set to be done by May 2017.
BAE shares were up 0.9% to 486.50 pence Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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