BAESF - BAE Systems secures $145.26M Navy contract

• BAE Systems ( OTCPK:BAESY ) was awarded a $145.26M firm-fixed-price contract action for maintenance, modernization and repair of USS Nitze for the Chief of Naval Operations scheduled fiscal 2023 depot modernization period.
• The contract includes options, which if exercised, would bring the cumulative value of this contract to $161,508,444.
• Work will be performed in Norfolk, Virginia, and is expected to be completed by October 2024.
• Fiscal 2023 other procurement funds in the amount of $135,407,331 and fiscal 2023 operations and maintenance funds in the amount of $9,856,725 will be obligated at the time of award, of which $9,856,725 will expire at the end of the current fiscal year.
• The contract was competitively procured using full and open competition via the System for Award website, with two offers received.
• The Naval Sea Systems Command, Washington, D.C., is the contracting activity.

For further details see: