LONDON, Aug. 10 (UPI) -- The British Ministry of Defense has awarded BAE Systems a long-term torpedo contract designed to improve efficiencies and save money.
As part of the Torpedoes Capability Contract, British company BAE will provide the Royal Navy and Air Force with maintenance and development of Spearfish and Sting Ray torpedoes technologies.
Under the approximately $612.8 million contract, BAE will support the torpedoes through to 2019 and the company will partner with the British Defense Ministry's Defense Equipment and Support Weapons Operating Center in a move to reduce costs by around 20 percent.
"This 10-year contract for availability is a radical improvement over legacy arrangements and has significantly reduced costs," Capt. Jim Johnson, British Torpedoes Project team leader, said in a statement.
"It delivers more coherent and affordable support for torpedoes and also provides the foundation for the development and upgrade of the Spearfish weapon. The adoption of partnering principles and close collaborative working with BAE Systems Integrated System Technologies was pivotal to delivering the optimum support solution."
