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News Breaks
June 16, 2014
12:01 EDTGD, KMPGeneral Dynamics NASSCO enters into contract with APT affiliate
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (GD), has entered into a contract with an affiliate of American Petroleum Tankers, or APT, a wholly owned subsidiary of Kinder Morgan Energy Partners, L.P. (KMP), for the design and construction of an additional 50,000 deadweight ton LNG-conversion-ready product carrier with a 330,000 barrel cargo capacity. Construction is scheduled to begin in 4Q15, with delivery scheduled for 2Q17. This new tanker, supported by a long-term charter, will be constructed at the NASSCO shipyard in San Diego, meeting the Jones Act requirement that ships carrying cargo between U.S. ports be built in U.S. shipyards.
News For GD;KMP From The Last 14 Days
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June 29, 2015
07:22 EDTGDBWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank
Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.
June 26, 2015
07:26 EDTGDSRA International exploring sale or IPO, Reuters reports
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June 24, 2015
10:00 EDTGDGeneral Dynamics receives $219M order for US Army's WIN-T increment 2 systems
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