General Dynamics Subsidiary Scores $600 Million to Help Build U.S. Navy Ships
June 29 2022 - 3:29PM
Dow Jones News
By Kathryn Hardison
A subsidiary of aerospace and defense company General Dynamics
Corp. was awarded $600 million to support construction of three
U.S. Navy ships.
General Dynamics NASSCO said Wednesday that its modified
contract with the Navy for long-lead-time material includes $500
million for the seventh and eighth ships in the John Lewis-class
fleet oiler program, plus $100 million to help build the sixth ship
in the Expeditionary Sea Base program.
Construction is expected to begin in the third quarter of 2023
and continue into 2027.
Shares of General Dynamics traded at $220.24, up 5.6% for the
year.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 29, 2022 15:14 ET (19:14 GMT)
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