Navy Awards $1.2B to General Dynamics Bath Iron Works, Huntington Ingalls for Arleigh Burke Destroyers

Arleigh Burke class destroyer

The U.S. Navy has awarded approximately $1.2 billion in contract modifications to General Dynamics‘ (NYSE: GD) Bath Iron Works subsidiary and Huntington Ingalls (NYSE: HII) for construction of Arleigh Burke destroyers.

Bath Iron Works will build one DDG 51 ship for $642, 583, 946 and Huntington Ingalls will build the other for $601, 990, 190, the Defense Department said Friday.

Funding for Bath Iron Works will also include $79.4 million in advance procurement funding for ship construction for fiscal years 2016 and 2017.

Huntington Ingalls’ modification will also include $79.4 million for those fiscal years, the Pentagon said.

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