General Dynamics Bath Iron Works awarded $21.4M contract The U.S. Coast Guard has awarded General Dynamics Bath Iron Works a $21.4M contract for the Offshore Patrol Cutter program. Bath Iron Works is one of three shipyards chosen from a field of eight competitors to proceed to Phase I design work on this next-generation cutter program. At the end of the 18-month Phase I period, the Coast Guard will select one team to develop Phase II detail design and build the first nine to 11 ships of a planned 25-ship class.
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.