General Dynamics and Austal Win Littoral Combat Ship Defense Contracts
The Department of Defense announced 24 new defense contracts Monday, with a combined value of $1.66 billion. One General Dynamics shipbuilding subsidiary and one of the company's close partners won a single contract apiece. Respectively:
- General Dynamics Bath Iron Works was awarded a $7.7 million cost-plus-fixed-fee delivery order under a Basic Ordering Agreement, instructing it to perform Planning Yard Services in support of Littoral Combat Ships LCS-2 and LCS-4. Planning yard functions ensure that planned and unplanned maintenance and sustainment activities are well-integrated and executed. This work is expected to be completed by Dec. 21, 2014.
- Austal USA, General Dynamics' partner in building Independence-class Littoral Combat Ships, was awarded a $14 million contract modification exercising an option to have it perform engineering and design services for the U.S. Navy, as well as to perform affordability efforts to reduce LCS acquisition and lifecycle costs. Austal's work should be complete by December 2014.
The article General Dynamics and Austal Win Littoral Combat Ship Defense Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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