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Huntington Ingalls Bags $567M Contract Modification From General Dynamics For Columbia-Class Submarines

Huntington Ingalls Industries Inc’s (NYSE:HII) Newport News Shipbuilding (NNS) division has secured a $567.6 million subcontract modification from General Dynamics…
byShivani Kumaresan
April 11, 2023
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  • Huntington Ingalls Industries Inc’s (NYSE:HII) Newport News Shipbuilding (NNS) division has secured a $567.6 million subcontract modification from General Dynamics Electric Boat.
  • General Dynamics Electric Boat is a subsidiary of General Dynamics Corporation (NYSE:GD).
  • The contract is to provide material and advance construction activities for Columbia-class ballistic missile submarines.
  • The company is currently under contract to construct submarine modules for Build I, the first two submarines in the class: District of Columbia (SSBN 826) and Wisconsin (SSBN 827).
  • The advance procurement funds from this subcontract modification, awarded April 4, will allow NNS to purchase major components and commodity material and to begin advance construction on Build II.
  • Also Read: Huntington Ingalls Bags $1.3B Contract To Support US Africa Command’s Life-Saving Operations
  • “This contract modification underscores the critical manufacturing work our shipbuilders do for the U.S. Navy, as major contributors to the Columbia-class,” said Brandi Smith, NNS vice president for Columbia-class construction.
  • Price Action: HII shares are trading higher by 0.39% at $210.49 on the last check Tuesday.
  • Photo Via Company
 
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