General Dynamics NASSCO Awarded $460 Million Contract for T-AKE Ship Construction

General Dynamics NASSCO, a wholly-owned subsidiary of General Dynamics (NYSE: GD), has been awarded a $460 million contract from the U.S. Navy for the construction of a tenth T-AKE dry cargo-ammunition ship, and to purchase long-lead construction materials for an eleventh ship. NASSCO is already under contract to build the first nine ships of the class; the first four vessels are now in service.