Northrop Grumman Scores $294M Navy Torpedo Contract

Law360, New York (August 28, 2013, 1:03 PM EDT) -- The U.S. Navy will pay Northrop Grumman Corp. up to $294.3 million to produce acoustic nose arrays for its lightweight torpedoes, the company announced this month.

The deal is a firm-fixed-price, cost-plus contract that include options that could raise the $45.9 million order for 428 nose arrays as high as $294.3 million for 3,000. The parts for MK54 lightweight torpedoes will support Navy and foreign military sales requirements. 

"This contract represents the continuation of our proud torpedo heritage that dates back to World War II," Tom...
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