Tag Archives: General Dynamics

The Department of Defense is asking Congress to authorize a potential $17.7B block-buy contract for two Columbia-class ballistic missile submarines, Defense News reported Wednesday. The U.S. Navy and General Dynamics (NYSE: GD) have been in talks over the terms of a two-ship procurement and the proposed block buy, if approved, would provide the company a steady flow of shipyard work as the industrial base faces the economic impact of the coronavirus pandemic.

General Dynamics' (NYSE: GD) mission systems business has secured a potential 10-year, $400M contract to manufacture spare parts for a military network system used to facilitate on-the-move communications. The Defense Logistics Agency's land and maritime organization awarded the sole-source contract that supports the Warfighter Information Network-Tactical Increment system, the Department of Defense said Thursday.

General Dynamics' (NYSE: GD) defense businesses earned $7.1B in total revenue for its fiscal 2020 first quarter that ended March 29, a modest increase from the same period last year. "In this time of crisis and uncertainty, our balance sheet remains strong," Phebe Novakovic, chairman and CEO of General Dynamics and a 2020 Wash100 awardee, told analysts in an earnings call Thursday.

The U.S. Navy is set to award an initial $1.2B contract for the contruction of its next-generation small multimission frigate in an initiative to accelerate a shipbuilding program that was supposed to commence later this year, Breaking Defense reported Tuesday.

James Geurts, acquisition chief at the U.S. Navy and a 2020 Wash100 Award winner, said the service has provided defense contractors $600M in payments it previously put on hold to ensure performance on awarded contracts, Reuters reported Tuesday.

Jennifer Felix, executive vice president and chief operating officer at ASRC Federal, has been promoted to president and CEO of the Beltsville, Md.-based government services contractor. “I’m very pleased to lead ASRC Federal and work together with our 7,000 employees, who serve customers across the United States and overseas,” Felix said in a statement released Tuesday.

President Trump has chosen 200 industry leaders as part of the Great American Economic Revival Industry Groups that will work to drive the nation's economy as it seeks to recover from the coronavirus health crisis.

The U.S. Navy has selected 25 companies for a potential 11-year, $7.14B contract to perform full-rate production of aircraft components and aviation systems for the Naval Air Warfare Center Aircraft Division.

Six companies have received a $550M increase to potential value of orders under a multiple-award contract to sustain U.S. Navy littoral combat ships docked at various locations within and outside the continental U.S. This contract action raises the ceiling for five ordering periods on MAC Tier 1 from $250M to $800M, the Department of Defense said Tuesday.

The U.S. Army has awarded $5.5B in contract modifications to seven companies to provide support services for the military branch amid the national emergency declared by President Donald Trump due to the coronavirus pandemic. The Army Corps of Engineers is the contracting activity and received 11 offers for the modifications, the Department of Defense said Thursday.