Defense contractor General Dynamics Corp. on Monday said it agreed to acquire a division of wireless technology giant Motorola Inc. for $825 million, in a move to strengthen its communications and information technology operations. The deal, which is expected to close in 60 days, would enhance General Dynamics' earnings immediately, the Falls Church, Va.-based company said. It is buying Motorola's Integrated Information Systems Group (IISG) based in Scottsdale, Ariz., which provides defense and other government customers with technologies, products and systems for secure communications and integrated communication systems. The business would become part of General Dynamics' Information Systems and Technology group. A top General Dynamics official said that the company expects the acquisition to add $100 million of earnings before interest and taxes for 2002 on revenues of $830 million. This will add to the $2.4 billion in revenues General Dynamics already records from its existing communications and IT business. General Dynamics, which is paying for the transaction through debt, is also assuming certain liabilities of the Motorola unit. Rating agency Standard & Poor said the deal would have no impact on its current 'stable' rating. Besides strengthening General Dynamics' position in communications and information technology for military and government customers, General Dynamics said in a statement, the deal will enhance company capabilities in command
General Dynamics NASSCO has been awarded a $24.1 million contract by the U.S. Navy for Littoral Combat Ships (LCS) sustainment execution in support of LCS' home-ported in or visiting San Diego. General Dynamics NASSCO is a business unit of General Dynamics (NYSE: GD). Under the contract, General Dynamics NASSCO will plan, furnish material and provide support and facilities to maintain and modernize twelve LCS-class ships. This contract covers both variants, Freedom and Independence
General Dynamics Bath Iron Works, a business unit of General Dynamics has awarded Marotta a contract to provide solenoid valves on the DDG-51 Class of Navy ships. The contract with options is valued at over $500,000. "The awarding of this contract is another strong indication of Marotta's solid and continually expanding relationship with General Dynamics and speaks well of the high-quality products we are providing to them," said Mike Leahan, Vice President and Chief Sales Officer at Marotta
Newport News Shipbuilding, (NNS) and General Dynamics (GD), have agreed to terminate their agreement and plan of merger. The companies entered into an agreement on April 24, 2001, and a tender offer by General Dynamics commenced on May 4, 2001.
The U.S. Navy’s Naval Sea Systems Command has awarded General Dynamics Advanced Informational Systems a contract to design and build the Surface Mine Countermeasure Unmanned Underwater Vehicle (SMCM UUV) system. The system will initially be a part of the Littoral Combat Ship Mine Warfare mission package. The contract has a maximum potential value of $86.7 million for one Engineering Development Model (EDM) and five low-rate initial production systems if all options are exercised
General Dynamics Awarded $12 Million for Virginia-Class Repair Parts General Dynamics Electric Boat has received an $11.5 million contract modification from the U.S. Navy to provide on-board repair parts for Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The modification was exercised under the $14 billion contract awarded to Electric Boat in December 2008 for the construction of eight Virginia-class submarines
General Dynamics Information Technology, a business unit of General Dynamics, has been awarded four SeaPort-e task orders by the U.S. Naval Sea Systems Command (NAVSEA) Combat Direction Systems Activity (CDSA) at Dam Neck, Va., to support its intelligence and temporary alteration programs. General Dynamics will continue to provide and expand its system lifecycle deployment and operational engineering support services for the programs’ equipment, systems, subsystems, components
General Dynamics’ Canadian subsidiary, General Dynamics Canada, was awarded a contract valued at $128 million by the Canadian Department of National Defense to supply and integrate a new data management system for the CP-140 Aurora, Canada’s long-range maritime patrol aircraft, as part of the ongoing Aurora Incremental Modernization Project (AIMP). Under the contract, General Dynamics Canada will supply a new mission computer, integrate upgraded sensors
General Dynamics Advanced Information Systems was awarded an $11.5m modification to a previously awarded contract to provide engineering and technical services for the AN/BYG-1 weapons control system for SSN21-, Virginia- and SSN688/688I-class submarines. This contract modification is the second-year option of a multi-year contract awarded in July 2009. General Dynamics Advanced Information Systems is a business unit of General Dynamics (NYSE: GD).
General Dynamics successfully completed the initial field deployment and test of the Remote Video Surveillance System (RVSS) upgrade for the U.S. Department of Homeland Security's Customs and Border Protection (CBP). This test demonstrated many technical capabilities of the RVSS system and is a key program milestone in its deployment schedule. U.S. Border Patrol agents are currently operating the RVSS in Nogales, Ariz
Fueled by liquefied natural gas, the Perla Del Caribe will join its sister ship, the Isla Bella, as the greenest containerships in the world. U.S. shipbuilder General Dynamics NASSCO today delivered the world’s second containership to be operated by liquefied natural gas (LNG)
General Dynamics Electric Boat expects to hire nearly 4,000 people in the coming years as it ramps up production on Navy submarines, the Associated Press reports. Electric Boat is projecting a positive outlook for 2016 for revenue and employment, saying 1
U.S. Defense Secretary Ash Carter on Wednesday mapped out plans for the U.S. Navy to buy more high-end submarines, destroyers, fighter jets and unmanned underwater vehicles using $8 billion in savings generated by scaling back orders for smaller Littoral Combat Ships.
The US Navy has awarded General Dynamics Electric Boat a $23.6 million contract to continue development work on the Ohio-class replacement nuclear submarine, General Dynamics said in a press release. "Under the terms of the modification
The U.S. Navy awarded General Dynamics Electric Boat a $24.1 million contract modification to perform reactor-plant planning yard services for nuclear submarines and support-yard services for moored training ships. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The joint venture group FSP LNG BV stated that it is taking the FSP LNG Flat Panel Semi-membrane Prismatic Type B containment system through General Design Approval (GDA) with the American Bureau of Shipping in Houston, and is projecting that construction of the first tank will begin at
U.S. shipbuilder General Dynamics Bath Iron Works christened the U.S. Navy’s newest guided-missile destroyer Rafael Peralta (DDG 115) at a ceremony held on its Bath, Maine shipyard on Saturday, October 31. The ship is named for Sgt. Rafael Peralta, U.S
The board of directors of General Dynamics (today declared a regular quarterly dividend of 69 cents per share on the company's common stock, payable February 5, 2016, to shareholders of record on January 15. The board also provided management with the authority to repurchase an
General Dynamics NASSCO, today, delivered the company's first ECO Class tanker, the Lone Star State, to American Petroleum Tankers (APT). The new ECO Class tanker symbolizes the emerging direction of the shipping industry in the U.S
The future USS Zumwalt (DDG 1000) has departed departed Bath Iron Works to set sail for the first time, conducting at-sea tests and trials in the Atlantic Ocean, Dec. 7. A video of the ship underway is available here. The Navy said the newly built multimission ship will provide
U.S shipbuilder General Dynamics NASSCO launched the first ship in a series of ECO Class tankers for the SEA-Vista fleet at a christening and launch ceremony at the company’s shipyard in San Diego on Saturday, December 12. The ship, the Independence, is a 610-foot, 50
On December 11, General Dynamics NASSCO completed bunkering of liquefied natural gas (LNG) for the Perla Del Caribe, the world’s second containership to be powered by LNG. Bunkering services were provided by the California-based company Clean Energy as well as Baker Hughes and
San Diego based shipbuilder General Dynamics NASSCO delivered three lead ships in 2015: USNS Lewis B. Puller, the Isla Bella and the Lone Star State. Each vessel represents three new and separate ship classes and highlights the builder’s diverse portfolio of commercial and government
The U.S Navy has awarded General Dynamics Electric Boat an $89.8 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy’s Ohio Replacement submarine and the Royal Navy’s Successor-class ballistic-missile submarine
The U.S. Navy has awarded a production contract for its Surface Electronic Warfare Improvement Program (SEWIP) Block 1B3 to General Dynamics Mission Systems. General Dynamics will deliver Block 1B3 system upgrades over the next five years