Defence technology firm Cobham has been awarded a 39m-dollar contract to manufacture a transmitter-antenna for the US Navy and Marine Corps' electronic warfare aircraft.
The contract is a modification to a previously awarded agreement and will see the US military exercise an option for 48 Low Band Transmitters; 13 vertically polarised antennas; and 28 horizontally polarised antennas.
"Cobham's Low Band Transmitter has a legacy of reliability and operational excellence," said Jill Kale, Vice President of Cobham Sensor Systems. "Activating this option to the fixed price contract is aligned with the Navy's acquisition strategy, and capitalizes on our expertise."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Cobham shares were down 0.22% in early trading on Monday. Since the start of 2012 the stock has gained 26%.
Trading terms: The Santa Rally
Glossary Will the Santa Rally result in its traditional December effect on global markets?
By Dr Matthew Partridge Published
Lock in high yields on savings, before they disappear
As interest rates peak, time to lock in high yields on your savings, while they are still available.
By Ruth Jackson-Kirby Published