August 8, 2006
BIW gets $115.8 million Navy contract
The U.S. Navy has awarded Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), a contract in the amount of $115.8 million to commence DDG 1000 ZUMWALT Class Destroyer detail design and procurement of Vendor Furnished Information (VFI) to support detail design.
This program was formerly known as the DD(X) destroyer program
The total value of the detail-design effort, after all contract options have been fully funded, will be in excess of $300 million.