The U. S. Navy has awarded General Dynamics Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), a $66.1 million contract to provide ongoing planning yard services for the DDG 51 Arleigh Burke-class guided missile destroyer and the FFG 7 Oliver Hazard Perry-class frigate programs. The contract includes options which, if exercised and fully funded by the Navy, would bring the total value of the contract to $371.6 million and extend the performance period through 2016.
Bath Iron Works manages post-delivery maintenance and modernization activities for all DDG 51-class ships and all FFG 7-class ships, including design, material kitting, logistics, planning and execution. The company is currently supporting 84 ships. The majority of work is performed in Maine, as well as in Norfolk, Va.; Mayport, Fla.; San Diego; Everett, Wash.; Pearl Harbor, Hawaii; and Yokosuka, Japan.
Jeff Geiger, president of Bath Iron Works, said, “We are committed to supporting the Navy with high-quality, affordable post-delivery and modernization services to help ensure the readiness and capability of the fleet around the world. This award indicates confidence on the part of the Navy in our ability to maintain DDGs and FFGs well into the future.”
Source: General Dynamics Corporation (NYSE: GD)
Date: Jun 19, 2012