General Dynamics (NYSE:GD)
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6 Months : From Jun 2019 to Dec 2019
By Maria Armental
General Dynamics Corp. was awarded a nearly $1.1 billion contract to build two ships for the U.S. Navy.
The value of the Navy Expeditionary Transfer Dock/Expeditionary Sea Base program contract, which includes an option for a third ship, could reach $1.63 billion if all options are exercised. Work is scheduled to begin in the first quarter of 2020 and completed by January 2025.
The contract initially called for two Expeditionary Transfer Docks, formerly known as mobile landing platforms: the USNS Montford Point and USNS John Glenn.
The program was expanded to include the USS Lewis B. Puller, USNS Hershel "Woody" Williams, and the Miguel Keith. The Miguel Keith is scheduled for delivery in the fourth quarter.
ESBs serve as floating forward staging bases, helping the Navy and Marine Corps deliver large-scale equipment and expeditionary forces to areas without adequate port access, according to the company. The support vessels are configured with a 52,000 square-foot flight deck, fuel and equipment storage, repair spaces, magazines, mission planning spaces and accommodations for up to 250 personnel, and are capable of supporting multiple missions.
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(END) Dow Jones Newswires
August 23, 2019 20:07 ET (00:07 GMT)
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