Raytheon Wins Major Contract for MK 54 Torpedoes with U.S. Navy
The Raytheon Corporation has been awarded on the 29th of August a $37,723,774 firm-fixed-price, fixed-price-incentive, cost-plus-fixed-fee agreement for the procurement of MK 54 lightweight torpedo common parts kits; MK 54 Mod 0 lightweight torpedo kits; and MK 54 practice fuel tanks, along with spare components, production support, engineering assistance, and hardware repair services.
This agreement includes options that, if exercised, could increase the total value of this contract to $448,737,790. The contract consolidates acquisitions for the U.S. Navy (98 percent) and the Government of Thailand (2 percent) under the Foreign Military Sales Program.
Activities will occur in Keyport, Washington (70 percent); Portsmouth, Rhode Island (25 percent); and Tewksbury, Massachusetts (5 percent), with an expected completion by May 2019. Fiscal 2016 weapons procurement (Navy), fiscal 2016 spare weapons procurement (Navy), and foreign military sales funding totaling $36,113,068 will be allocated at the time of contract award and will not expire at the end of the current fiscal year. This contract was secured through competitive bidding via the Federal Business Opportunities platform, with two submissions received. The Naval Sea Systems Command, Washington, District of Columbia, oversees the contract (N00024-16-C-6423).
