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February 5, 2014
10:01 EDTGDGeneral Dynamics awarded $520M contract modification by U.S. Navy
The U.S. Navy has awarded General Dynamics Electric Boat a $520M contract modification to buy long lead-time material for four Virginia-class submarines, SSN-794, SSN-795, SSN-796 and SSN-797. The contract provides funding for steam and electrical-plant components, main propulsion unit and ship-service turbine generator sets, as well as miscellaneous hull, mechanical and electrical-systems components to support construction of the submarines. With this modification, the contract has a value of $1.2B. It was awarded initially in April 2012.
News For GD From The Last 14 Days
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February 23, 2015
10:21 EDTGDGeneral Dynamics awarded $415M contract by US Army
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February 19, 2015
07:46 EDTGDAustralia opens bids for $8B armored vehicle defense contract, WSJ says
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February 17, 2015
12:49 EDTGDSpirit 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.
10:01 EDTGDGeneral Dynamics awarded $50M for Abrams tank production
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