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January 29, 2009

BIW gets $37.8M contract

By The Mainebiz News Staff

The U.S. Navy yesterday awarded $37.8 million to Bath Iron Works for additional work on its first Littoral Combat Ship.

BIW, which is owned by Falls Church, Va.-based General Dynamics, is building its first LCS. The $37.8 million will be used for adjustments following its sea trials later this year, Jim DeMartini told Mainebiz this morning.

BIW is currently competing with Lockheed Martin to build an LCS that will pass Navy muster. DeMartini said there is no timeline for when the Navy will make its decision. The LCS is designed to operate in shallow coastal waters.

Shares of General Dynamic Corp., which owns BIW, were up $4.29 after the announcement late Wednesday, to $60.01, according to the Associated Press.


 

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