General Dynamics Acquiring Earl Industries Ship Repair Division; Fred Harris Comments

General Dynamics (NYSE: GD) has agreed to acquire the ship repair and coatings division of Earl Industries for an undisclosed amount, General Dynamics announced Friday.

General Dynamics expects the acquisition to increase its earnings per share in 2013 and to close this summer.

The division will become part of General Dynamics’ San Diego-based NASSCO subsidiary.

NASSCO adds two more East Coast naval ports to its ship maintenance and repair operations, said NASSCO President Fred Harris.

Earl Industries’ ship repair and coatings division employs nearly 575 workers in Norfolk, Va. and Mayport, Fla. areas and has repaired and converted U.S. Navy ships since 1985.

The company is a prime contractor for nuclear aircraft carrier multi-ship, multi-option contracts.

It also provides maintenance and repair services to frigates and other classes of naval ships.

Check Also

SAIC

SAIC Awarded TSA Test & Evaluation Support BPA

Science Applications International Corp. (NYSE: SAIC) has been awarded a potential $40M blanket purchase agreement for operational test and evaluation services to the Transportation Security Administration, according to an award notice posted Thursday.

US Air Force

Air Force Selects Boeing, Lockheed, Raytheon Technologies for Hypersonic Cruise Missile Tech Design Program

The U.S. Air Force has indicated its intent to solicit design proposals from Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT) and Raytheon Technologies (NYSE: RTX) for a hypersonic cruise missile technology that can be launched from a fighter or a bomber aircraft.