General Dynamics NASSCO Awarded $744M Contract to Build Mobile Landing Platform Ships

General Dynamics (NYSE: GD) NASSCO announced today that it has received from the U.S. Navy a $744 million modification to its Mobile Landing Platform (MLP) contract to fully fund construction of the first two ships of the new ship class. Construction of the first ship will begin immediately, with delivery to occur by the spring of 2013.

The contract includes an option for the construction of a third MLP which, if exercised, will increase the total contract value to approximately $1.3 billion.