6:04 PM EDT, August 15, 2013
Northrop Grumman Corp. announced it won a U.S. Navy contract to make torpedo parts in Annapolis that could be worth as much as $294 million.
The defense contractor's existing 400-person workforce in Annapolis will produce acoustic nose arrays for the MK54 lightweight torpedo for the Navy and sales to the Royal Australian and Indian navies.
The initial contract calls for making 428 of the nose arrays for $45.9 million. Options, if exercised, would bring the order to as many as 3,000 for a cumulative value of $294.3 million.
"This contract represents the continuation of our proud torpedo heritage that dates back to World War II," said Tom Jones, vice president of Northrop Grumman's Undersea Systems business unit.
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