* Oceaneering International (NYSE:OII [https://seekingalpha.com/symbol/OII]) announced on Wednesday that the Marine Services Division of its Aerospace and Defense Technologies segment has been awarded an indefinite-delivery/indefinite-quantity contract by the Naval Supply Systems Command Weapon Systems Support, Mechanicsburg, Pennsylvania, for the repair of valves and actuators in support of the U.S. Navy’s Corporate Component Repair Program (“CCRP”) for Virginia-class and Los Angeles-class submarines.
* Oceaneering said it is one of three suppliers selected for this program.
* The base contract, valued at up to $86 million, has a two-year initial term with provisions for three additional option years. Work will be performed at Oceaneering’s facilities.
* OII +1.46% after hours to $22.87.
* Source: Press Release [https://seekingalpha.com/pr/20207319-oceaneering-awarded-u-s-navy-corporate-component-repair-program-contract]
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Oceaneering International secures $86 million contract from the U.S. Navy
Published 2 months ago
Aug 20, 2025 at 9:14 PM
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