A Navy contract renewal means San Diego-based Titan Corp. may gain more than five years of work and more than $48 million, the company announced.
The contract calls for Titan to provide engineering, analytical, logistics and technical support for the Navy’s submarine undersea warfare and electronic systems.
It follows a similar $25 million contract that had expired. Work on the new contract began July 1.
Work will be done from Titan Systems’ Unidyne office in Norfolk, Va. Unidyne provides engineering, analytical and technical support services to defense agencies and related commercial businesses. One area of Unidyne’s expertise is surface ship and submarine undersea systems.
The award contains six options, which if fully exercised call for Titan to provide 63 months of work. The Navy initiated the first option this month. The five other option periods are scheduled in one-year increments, with the sixth and final option to begin Oct. 1, 2004.
Titan announced the award from the Fleet Technical Support Center, Atlantic on July 14.
Titan President and CEO Gene W. Ray said company officials are pleased the Navy has exhibited “continued confidence” in his company.
Three of Titan’s four core businesses deal in communications and information technology. Titan also markets an electronic food pasteurization technology. Titan is traded on the New York Stock Exchange under the symbol TTN.