Local company news roundup

  • Updated: November 7, 2013 - 8:06 PM

NEW BUSINESS

BAE Systems, Fridley, has received a $33.6 million contract from the Office of Naval Research to develop and demonstrate a Hyper Velocity Projectile (HVP). The HVP is a next-generation, guided object capable of completing multiple missions for the Electromagnetic Railgun, as well as existing 5-inch and 155-mm gun systems.

DEBT AND EQUITIES

G&K Services Inc., Minnetonka, declared a quarterly dividend of 27 cents per share, payable Dec. 20 to shareholders of record on Dec. 4.

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