By Ian Walker

 

BAE Systems PLC said Monday that it has been awarded a new 15-year contract with the U.K. Ministry of Defence worth 2.4 billion pounds ($3.20 billion), which will sustain about 4,000 jobs across the U.K.

The London-listed defense company said the new contract will supersede the current contract which is due to end at the end of 2022.

Under the contract, BAE will supply munitions products and engineering support to the U.K. armed forces.

Shares at 1250 GMT were up 6.0 pence, or 1.2%, at 510.20 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

November 30, 2020 08:11 ET (13:11 GMT)

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