The U.S. Navy announced today that General Dynamics Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), was awarded a contract to continue providing planning yard services for DDG 51 Arleigh Burke-class guided missile destroyers. The contract is valued at $126 million for the first year with four option years which, if exercised and fully funded by the Navy, would bring the total value of the contract to $719 million.
Planning yard services include design, material kitting, logistics, planning and execution. The majority of the Planning Yard services work will be performed in Maine.
Bath Iron Works also currently manages post-delivery maintenance and modernization activities for DDG 1000-class ships and LCS-class ships.
Source: General Dynamics Corporation (NYSE: GD)
Date: Feb 5, 2019