Dynamic shipbuild award

The US Navy has awarded a US $208 million contract to a business unit of General Dynamics Inc. for the construction of a Littoral Combat Ship

The US Navy has awarded a US $208 million contract to a business unit of General Dynamics Inc. for the construction of a Littoral Combat Ship.

Bath Iron Works will perform the work in Pittsfield, Massachusetts, and Bath, Maine. Production is expected to be completed by August 2009.

General Dynamics, which was once the largest defence contractor in the US with $10.2 billion in revenue in 1990, underwent a massive downsizing between 1992 and 1994 in the face of declining defence budgets.

Shares in the company recently dropped $0.59 to finish at $74.14 on the New York Stock Exchange.

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