A Norwegian multinational company will soon manufacture missiles for the Navy in James City County.
On Wednesday, the U.S. Navy awarded ‘Kongsberg Defence & Aerospace’ a multi-year procurement contract for the delivery of Naval Strike Missile (NSM) missiles to the Navy and Fleet Marine Force.
The contract between the two entities would last over a five-year period. The fixed price contract is valued at NOK 10 billion which is equal to around $89.7 million. This contract includes options which, if exercised, would bring the cumulative value to about NOK 12 billion which equates to upwards of $1 billion in the United States.
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“This contract is the largest missile contract in Kongsberg’s history and an important milestone for us. We are pleased the United States has selected Kongsberg as an industry partner and look forward to continued cooperation to support US defense capabilities and create value for important stakeholders in Norway and the US,” said Geir Håøy, President and CEO of Kongsberg.