Northrop Gets Contract Award for $388 Million
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Northrop Grumman Corp. received a $388-million award from the Air Force to update radar systems on the B-2 stealth bomber.
Work to replace the bomber’s radar and antenna, which will resolve conflicts in radio frequency usage with commercial systems, could be worth more than $900 million through 2011, Century City-based Northrop said.
Raytheon Co., which provided the original B-2 radar, is the principal subcontractor to Northrop on the radar upgrade project. Raytheon will do much of its work in El Segundo and Dallas. Northrop will do its work in Palmdale.
Northrop shares fell 17 cents to $50.47 on the New York Stock Exchange.
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