General Dynamics Wins $9.4 Billion Sub Contract
General Dynamics' (NYSE: GD) ship is finally coming in.
The defense contractor has secured a $9.47 billion deal to complete construction of the first Columbia-class ballistic missile submarine and begin work on a second boat. The contract, though expected, alleviates any lingering concerns that General Dynamics' most important contract would be delayed or get caught up in post-election budgeting squabbles.
The Columbia is one-third of the Pentagon's refresh of its nuclear deterrence strategy. The boats are expected to replace the Navy's fleet of aging Ohio-class submarines, which in the coming years will be running out of nuclear fuel.
Source Fool.com
