General Dynamics (NYSE: GD) and Huntington Ingalls Industries (NYSE: HII) have won $6.1 billion combined in contracts to build nine destroyers for U.S. Navy, Reuters reported Monday.
Andrea Shalal-Esa writes the Navy awarded a $2.84 billion order to General Dynamics for five DDG 51 class ships and $3.33 billion to Huntington Ingalls.
General Dynamics’ contract includes an option for a 10th ship and would increase that company’s contract value to $3.53 billion, according to Reuters.
The Navy would purchase that ship under its budget plan for fiscal years 2013 through 2017, Shalal-Esa reports.
Huntington Ingalls’ contract would increase to $3.38 billion if the Navy exercises an option for engineering change proposals, the report said.
