General Dynamics unit awarded U.S. Navy contract worth up to $215.5M The U.S. Navy has awarded General Dynamics Electric Boat a contract to perform submarine safety program and intermediate submarine maintenance work for submarines. This five-year, indefinite delivery, indefinite quantity contract has a potential value of $215.5M. Electric Boat is a wholly owned subsidiary of General Dynamics (GD).
Spirit AeroSystems likely to collect some funds from Gulfstream,says Wells Fargo After Spirit AeroSystems (SPR) disclosed in a February 13 regulatory filing that it had settled its dispute with General Dynamics' (GD) Gulfstream unit with respect to amounts due on G650 deliveries from 2010 through Q3 2013, Wells Fargo expects Spirit to collect some of the $135M that it held n retainage in accounts receivable for Gulfstream underpayments as of the end of last year. The firm says it cannot estimate the amount that Spirit will collect. It keeps an Outperform rating on Spirit.