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February 1, 2013
10:01 EDTGDGeneral Dynamics awarded $41.6M conract modification by U.S. Navy
The U.S. Navy has awarded General Dynamics Electric Boat a $41.6M contract modification to perform routine maintenance and modernization work on the USS Hartford, a Los Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics. Under the terms of the contract, Electric Boat will perform a dry-docking selected restricted availability, which consists of maintenance work, upgrades and modernization activities required to ensure the submarine is operating at full technical capacity. The work will take place at the Electric Boat shipyard in Groton and involve up to 417 employees at its peak. It is scheduled for completion in July. The contract was initially awarded in April 2012 and has a potential value of $58.7M if all options are exercised.
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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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