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MoD Awards GBP46 Million Submarine Command System Contract to BAE Systems

Date : 12/06/2012 @ 7:46PM
Source : Dow Jones News
Stock : Bae Sys. (BA.)
Quote : 389.1  13.1 (3.48%) @ 9:05PM
BAE Systems share price Chart

MoD Awards GBP46 Million Submarine Command System Contract to BAE Systems

BAE Systems (LSE:BA.)
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LONDON--The U.K. Ministry of Defense, or MoD, said Thursday it has awarded a 46 million pound contract to support and maintain a new sophisticated combat system across the Royal Navy's submarine fleet to BAE Systems PLC (BA.LN).

MAIN FACTS:

-Contract has been awarded to BAE Systems Maritime-Submarines and will safeguard around a total of 30 jobs at the company's sites in Ash Vale, Surrey, and Weymouth in Dorset.

-Shares at 1345 GMT up 5 pence, or 1.62%, at 338 pence valuing the defense and aerospace company at GBP11 billion pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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