BAESF - BAE Systems secures $294.79M Navy price contract action

• BAE Systems ( OTCPK:BAESY ) was awarded a $294.79M firm-fixed-price contract action for maintenance, modernization and repair of USS Kearsarge FY23 docking selected restricted availability.
• The contract includes options which, if exercised, would bring the cumulative value of this contract to $340.31M.
• Work will be performed in Norfolk, Virginia, and is expected to be completed by November 2024.
• FY23 operations and maintenance funds in the amount of $289.4M and FY22 other procurement funds in the amount of $5.38M will be obligated at the time of award, of which $289.40M will expire at the end of the current fiscal year.
• This contract was competitively procured using full and open competition via the System for Award website, with two offers received.
• The Naval Sea Systems Command is the contracting activity.

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