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Saturday, February 27, 2010

BAE Systems wins Navy contract worth up to $500 million

Arleigh-Burke class guided-missile destroyerBAE Systems has been awarded a five-year Navy contract to modernize 11 Arleigh Burke-class guided missile destroyers, the company announced Friday.

The "multi-ship, multi-option" contract includes an initial one-year award and four option years; if all the options are exercised, the contract could be worth between $350 million and $500 million, according to the company.

Modernization, maintenance and repair work will begin in July on the flagship of the class, the Arleigh Burke, at the company's facility in Norfolk, south of the Berkley Bridge.

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