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Monday, June 29, 2009

Cobham, Northrop Grumman Get 2.4 Billion U.S. Army Deal

Cobham and Northrop Grumman(NOC) have been selected to provide the VIS-X Vehicular Intercommunication System Expanded for the U.S. Army, Cobham said Monday. The companies will be required to deliver up to 500 VIS-X systems per month during the first year following completion of first article testing and up to 2,000 systems per month in subsequent years. The total value of the 10-year contract has an anticipated not-to-exceed ceiling of $2.4 billion, of which Cobham's share is 50%.

Disclosure I am long NOC shares in my industrial goods folio.

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