BWX Technologies [BWXT] said last week that the U.S. Naval Nuclear Propulsion Program awarded the company’s Nuclear Fuel Services subsidiary $141.7 million in first quarter contract options for nuclear submarine and aircraft carrier fuel production, development, and decommissioning operations.
BWXT said it has already begun this contract work, with the majority schedules for completion throughout the rest of 2017.
Nuclear Fuel Services manufactures naval nuclear fuel for U.S. nuclear-powered submarines and aircraft carriers, having served as the sole provider of the material for decades.
The company announced in April 2016 that the naval nuclear propulsion program awarded contracts to two of its subsidiaries, Nuclear Fuel Services and the Nuclear Operations Group, worth roughly $3.1 billion, with options. It said at the time it had received $1.2 billion of the award in 2016 and would receive the rest this year and next.