Northrop Wins Award to Update Spy Plane
From Bloomberg News
Northrop Grumman Corp. received a $1.93-billion award from the U.S. Navy to design, build and demonstrate an updated version of its E-2 Hawkeye spy plane.
Century City-based Northrop will modify two of its E-2 aircraft to the new E-2 advanced Hawkeye design, the Navy said. Work will be completed by December 2012.
Northrop’s shares fell 11 cents to $91.75 on the New York Stock Exchange before the announcement.
