BAESY BAE Sys PLC/S ADR

$BAESY this has literally gone nowhere for a whole year, which is surprising considering what has occurred in those twelve months

BAE Systems Land & Armaments received an $818.4 million contract modification from the U.S. Department of War for Multi-Purpose Armored Vehicles, lifting the total value of the original 2023 contract to $3.30 billion. The modification, designated PZ0054, expands the company’s work under contract W56HZV-23-C-0024 and reinforces its role in supplying armored vehicles to the U.S. Army. Work will be performed at BAE Systems’ facility in York, Pennsylvania, with completion scheduled for May 31, 2030. The Army obligated the full $818.4 million at the time of the award, using FY2025 and FY2026 procurement funds allocated for tracked combat vehicles and weapons. The Army Contracting Command at Detroit Arsenal, Michigan, is responsible for the program. The award adds to BAE Systems’ defense backlog and provides multiyear visibility for its U.S. land-systems business. $BAESY

BAE Systems Land & Armaments received a $38.2 million contract modification from the U.S. Navy covering two revisions to the MK 45 Mod 4 naval gun system. The cost-plus-incentive-fee modification expands a previously awarded contract and strengthens BAE Systems’ ongoing role in supporting U.S. naval weapons programs. The company will perform the work in Louisville, Kentucky, with completion expected by March 2030. The Navy will finance the full $38.2 million award using FY2024 shipbuilding and conversion funds. The funding will be obligated when the modification takes effect and will remain available beyond the end of the current fiscal year. The award was issued through Naval Sea Systems Command in Washington, D.C., highlighting continued U.S. defense spending on naval modernization and upgrades to existing weapons systems. $BAESY