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 Electric Boat has been awarded a $12.5 million contract modification by the U.S. Navy to develop advanced submarine technologies for current and future undersea platforms. Electric Boat is a wholly owned subsidiary of General Dynamics. Under the terms of the modification, General Dynamics Electric Boat will perform advanced submarine research and development studies in support of a wide range of technology areas including manufacturability, maintainability, survivability
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 November 13, 2015, to shareholders of record on October 9. General Dynamics is a market leader in business aviation; combat vehicles
The U.S. Navy has ordered 56 AN/USC-61(C) Digital Modular Radios (DMRs) and related equipment from General Dynamics. The newly built DMR radios will be capable of using the Mobile User Objective System (MUOS) waveform, the digital dial tone needed to make voice calls to the U.S
General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via modular shipbuilding, including: two 300-ton cranes allowing shipbuilders the ability to increase the size of the erectable blocks; a block assembly line to
Shipping company TOTE and shipbuilder NASSCO on Saturday launched Perla del Caribe, the second of two Marlin Class ships – the first containerships in the world to be powered by natural gas. The christening and launch ceremony took place at General Dynamics NASSCO’s shipyard in San
Ceremony signaled the start of construction for APT-4 ECO Tanker, the fourth of five Jones Act tanker ships to be constructed at NASSCO for American Petroleum Tankers. General Dynamics NASSCO signaled the start of construction of the fourth of five “ECO” tankers to be built
General Dynamics stated that Larry R. Flynn, president of Gulfstream Aerospace Corp., has informed the corporation of his intention to retire on June 30, for health reasons. Mark L. Burns, president of Product Support for Gulfstream, will succeed Flynn as president of Gulfstream.
General Dynamics NASSCO, a business unit of General Dynamics has been awarded a $36.4 million contract for maintenance, modernization, and repair of the USS Mitscher (DDG 57). "This award is a testament of the hard work by the General Dynamics NASSCO team and the collective effort
The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier, a Los Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics.
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 August 7, 2015, to shareholders of record on July 3. General Dynamics is a market leader in business aviation; combat vehicles
The U.S. Navy has awarded General Dynamics Electric Boat a $6.5 million contract modification to support development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics. The VPM will comprise four large-diameter payload tubes in a new
Shipbuilder General Dynamics NASSCO delivered the U.S. Navy’s newest ship, the USNS Lewis B. Puller (MLP 3 AFSB) on Friday, June 12. The ship is named in honor of the late U.S. Marine Corps Lieutenant General Lewis “Chesty” Puller
Ceremony signals the start of construction for the second SEA-Vista ECO Tanker to be constructed at the General Dynamics NASSCO shipyard in San Diego. General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, signaled the start of construction for the second of three 50
General Dynamics received a $20 million contract modification from the U.S. Navy to continue modernizing the AN/BYG-1 Weapons Control System (WCS) Technology Insertion and Advanced Processing Build software for U. S. Navy and Royal Australian Navy submarines
General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit. Net profit increased 16.4 percent to $752 million for the second quarter from $646 million a year
The board of directors of General Dynamics has elected Mark Malcolm to be a director of the corporation, effective August 5, 2015. He has been appointed to serve on the Audit Committee. Malcolm is the president and chief executive officer of Tower International, Inc