updated 12/6/2010 5:15:19 AM ET 2010-12-06T10:15:19

VIRGINIA BEACH, Va., Dec. 3, 2010 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) subsidiary AMSEC LLC has been awarded a contract by the U.S. Navy for engineering services and technical, logistics, maintenance and installation/alteration support on cargo and weapons handling systems.

The cost-plus-fixed-fee task order contains a base period with four one-year option periods, which, if exercised, would bring the cumulative value of the contract to approximately $30.5 million.

"This task order continues the core work that is the foundation of our maintenance and engineering business," said Harris Leonard, vice president of Northrop Grumman Shipbuilding and president of AMSEC operations. "We look forward to continuing our partnership with the U.S. Navy as we remain committed to our long-established competencies of 'find, fix and train'' and sustained superior quality."

Work will commence December 2010 and be performed on U.S. Navy and Military Sealift Command ships in various locations on the U.S. East Coast, West Coast and Japan. If all options are exercised, the work is expected to be completed by December 2015.The Naval Surface Warfare Center, Carderock Division, Philadelphia Detachment is the contracting activity.

AMSEC LLC, a wholly-owned subsidiary of Northrop Grumman's Shipbuilding sector, is a full-service provider of engineering, logistics and technical support services to the U.S. Navy and maritime industry.

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

CONTACT:  Leslie Mitchell-Gallop
          Northrop Grumman Shipbuilding
          (757) 463-6666
          leslie.mitchell2@ngc.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 1.97%
$30K home equity loan FICO 5.80%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.70%
13.70%
Cash Back Cards 17.66%
17.91%
Rewards Cards 17.05%
17.17%
Source: Bankrate.com