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09:12 AM, August 23, 2018
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Pentagon Awards $40M FMS Contract For MK54 Lightweight Torpedo Kits
Pentagon Awarded $40M FMS Contract For MK54 Mod 1 Lightweight Torpedo Kits

The Pentagon has awarded a $40 million worth contract for production of MK54 Mod 1 lightweight torpedo kits and support services, the Department of defense announced Wednesday.

“Progeny Systems Corp.,* Manassas, Virginia, is awarded a $40,601,413 cost-plus-fixed-fee, cost-plus-incentive-fee, fixed-price-incentive-fee contract for the production of MK54 Mod 1 lightweight torpedo kits and related test equipment, spares, and engineering and hardware support services,” the release states.

The awarded contract has the cumulative value of $303 million if the options are exercised. This contract combines purchases for the United States Navy; and the governments of Canada, the commonwealth of Australia, the United Kingdom, and Taiwan under the Foreign Military Sales (FMS) program, the statement said.

Work will take place in multiple US locations and is expected to be completed by August 2022.

Fiscal 2018 weapons procurement (Navy) funding in the amount of $21,690,207; fiscal 2017 weapons procurement (Navy) funding in the amount of $18,550,183; and FMS funding in the amount of $361,023 will be obligated at time of award and will not expire at the end of the current fiscal year, the statement added. 

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