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Northrop Grumman Lands $9.6-M Navy Torpedo Contract

The U.S. Navy has awarded Northrop Grumman Corporation (NYSE: NOC) a $9.6 million contract, with options up to $40.5 million, to produce the Transducer Array/Nose Shell Assembly of the MK 48 heavyweight torpedo.

Machine Tool Orders Rise in May, AMT Says

Machine tool orders rose in May as the industry recovers from a two-year slump, the Association for Manufacturing Technology (McLean, VA) said in a monthly report.