Qinetiq wins NASA deal worth $2bn

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first_img Show Comments ▼ Qinetiq wins NASA deal worth $2bn Monday 22 November 2010 7:17 pm Share UK DEFENCE technology group Qinetiq has won a multi-year engineering contract with US Space Agency NASA worth up to $2bn (£1.25bn).Qinetiq’s US arm will provide engineering support and ground operations to the Kennedy Space Centre in Florida from March 2011, although contract terms are still being finalised.The deal is for at least five years, with options for a further three, and is worth up to $2bn (£1.25bn).Profit margins will be at the lower end of Qinetiq’s range due to the size and quality of the contract.The work is expected to include designing and developing ground systems and equipment for NASA launch vehicles and spacecraft and technology for NASA mission requirements and operations, among others.Qinetiq shares closed up by 1.25 per cent at 113.70p as investors welcomed the news, which comes at a time of government spending cuts on both sides of the Atlantic.The UK Ministry of Defence budget has been cut by eight per cent in real terms over the next four years while the US recently cancelled NASA’s $108bn Constellation manned space programme to get astronauts to the Moon by 2020 and Mars by 2030.Qinetiq shares fell by more than a third in October after it lost a major MoD army, navy and air force training contract, but rallied last week as it announced a 14 per cent rise in 2010 first half profits.The group employs about 6,000 people in the UK and has staff in most US states. It was forced to issue two profit warnings in November 2009 and January 2010 due to delays in UK and US government contract decisions. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsappcenter_img KCS-content whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more


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