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.
BWX 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.