BIW Awarded $114 M for Advanced Procurement of Aegis Destroyer Long Lead Material

(Bath, Maine, March 1, 2010) -- The U. S. Navy has awarded Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), a contract valued at up to $114 million to procure long lead material to support the anticipated construction of DDG 115 under the DDG 51 class destroyer program. Procurement efforts are expected to complete by December 2012.

Bath Iron Works president, Jeff Geiger, stated, "This award is the first step leading to continued construction of Aegis destroyers at BIW for many years to come. As the lead shipbuilder of the class, we have a track record of excellent performance in both procurement and construction activities across the 31 ships of this class we've built in the last two and a half decades. We're excited about the opportunity to continue that performance."

Source : General Dynamics Corporation (NYSE: GD)