Steven T Schorer News

Carrier Steam Turbine Contract Awarded

DRS Technologies, Inc. has been awarded a contract to continue to design advanced propulsion steam turbines for the U.S. Navy's next-generation CVN-78 class of aircraft carriers. The $5.6 million award was received by DRS from Dresser-Rand Company in Wellsville, New York, a unit of Ingersoll-Rand Company Limited (NYSE:IR). The design effort for this contract will be performed by the company's DRS Power Technology unit in Fitchburg, Massachusetts. The main propulsion turbines to be manufactured by Dresser-Rand will be delivered to Northrop Grumman Newport News, in Newport, Virginia, by 2008. "DRS is a key supplier of power systems to the U.S.