General Dynamics NASSCO awarded ship repair contract valued at up to $754 million

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Oct 13, 2023, 13:30 ET

SAN DIEGO, Oct. 13, 2023 /PRNewswire/ -- General Dynamics NASSCO, a subsidiary of General Dynamics (NYSE: GD), announced today it was awarded a contract by the U.S. Navy for the maintenance, modernization and repair of USS Chung-Hoon (DDG 93) and USS James E. Williams (DDG 95). The contract for an initial $15.6 million includes options that, if exercised, would bring the cumulative value to $753.8 million.

General Dynamics NASSCO was awarded a U.S. Navy contract valued at up to $754 million for the maintenance, modernization and repair of the guided-missile destroyers USS Chung-Hoon (DDG-93) and USS James E. Williams (DDG-95), pictured here. U.S. Navy photo.

"NASSCO and our industry partners are looking forward to executing a pair of successful availabilities and are thankful the Navy has sole-sourced the contract to us to lead this effort," said Dave Baker, vice president of Repair for General Dynamics NASSCO. "Much like our recent success with the modernization on USS Pinckney, our repair team is ready to tackle another opportunity with our Navy partners and get these ships back to the fleet in a timely manner."

Work will be performed in Norfolk, Virginia, and San Diego, California. If all options are exercised, work will continue through November 2030.

General Dynamics NASSCO specializes in the design and construction of ships for the U.S. Navy and commercial markets, as well as repair services for the U.S. Navy, with capabilities in San Diego, Norfolk, Mayport, and Bremerton. General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $39.4 billion in revenue in 2022.

SOURCE General Dynamics NASSCO