General Dynamics Finalize $1 Billion Contract to Build Nine Tankers
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), announced today that it has finalized a $1 billion contract with U.S. Shipping Partners L.P. (NYSE: USS) to build nine product carrier tankers. The contract includes options for five additional ships. Construction of the first tanker is scheduled to begin in the third quarter of 2007, with delivery to occur by the second quarter of 2009.