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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