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Northrop Grumman $635M Contract for Subs

The U.S. Navy has awarded Northrop Grumman Corporation (NYSE:NOC) a $635m cost plus fixed-fee/level of effort contract for engineering, design and modernization support of new construction, operational and decommissioning submarines. The company's Shipbuilding sector in Newport News, Va., is the prime contractor for the work on both the Los Angeles-class and Seawolf-class submarines which includes technical support…