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BAE Systems bags contracts worth more than $30 million from the US Navy

1 min read | November 12, 2020 09:48 AM GMT | By Team Kalkine Media
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BAE Systems Plc (LON: BA.) has been awarded contracts worth over $30 million from the US Navy.

  • The contract is for two Arleigh Burke class destroyers for Consolidated Afloat Network Enterprise Services (CANES).
  • Under the first order, which is expected to complete by February 2022, the company will produce fully integrated CANES racks for two command ships.
  • BAE Systems has stated that the Group's US-based portfolio remains well-aligned to customer priorities and growth areas and Joe Biden’s victory would not dent weapons orders from the US.
  • The company had recently invested in state-of-the-art Industry 4.0 tools to equip its smart factory in Warton, England.
  • On 12 November 2020, the stocks of the company declined by 1.45% from its previous closing, hovering at around GBX 468.60 at 09:08 AM GMT+1.

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