Transaction expands company’s capabilities in ship repair market.
General Dynamics (NYSE: GD) today completed its acquisition of Metro Machine Corp., a leading East Coast surface-ship repair company that supports the U.S. Navy fleet in Norfolk, Va. The value of the cash transaction has not been disclosed. Metro Machine Corp. now becomes part of the shipbuilding and repair operations of San Diego-based General Dynamics NASSCO, a leading provider of ships to the Navy, a major producer of commercial vessels and the largest shipbuilding and repair company on the West Coast.
“The addition of Metro Machine enhances our ability to compete in the growing naval ship repair market,” said Fred Harris, president, General Dynamics NASSCO. “We have added a solid team with a successful track record that will strengthen our ability to deliver cost-effective maintenance and repair services to the U.S. Navy on the East Coast.” General Dynamics NASSCO, a business unit of General Dynamics, is a prime contractor for multi-ship, multi-option (MSMO) contracts for Navy combat and support ships, including frigates (FFGs), dock landing ships (LSDs), amphibious transport ships (LPDs) and amphibious assault (LHA/LHD) ships. MSMO contracts provide for maintenance, modernization and repair to all ships of a class in specific homeport areas. With the addition of former Metro Machine Corp. employees, General Dynamics NASSCO now employs approximately 3,850 people.