Huntington Ingalls Bags $567M Contract Modification From General Dynamics For Columbia-Class Submarines

Huntington Ingalls Industries Inc's (NYSE:HII) Newport News Shipbuilding (NNS) division has secured a $567.6 million subcontract modification from General Dynamics Electric Boat.
General Dynamics Electric Boat is a subsidiary of General Dynamics Corporation (NYSE:GD).
The contract is to provide material and advance construction activities for Columbia-class ballistic missile submarines.
The company is currently under contract to construct submarine modules for Build I, the first two submarines in the class: District of Columbia (SSBN 826) and Wisconsin (SSBN 827).
The advance procurement funds from this subcontract modification, awarded April 4, will allow NNS to purchase major components and commodity material and to begin advance construction on Build II.
Also Read: Huntington Ingalls Bags $1.3B Contract To Support US Africa Command's Life-Saving Operations
"This contract modification underscores the critical manufacturing work our shipbuilders do for the U.S. Navy, as major contributors to the Columbia-class," said Brandi Smith, NNS vice president for Columbia-class construction.
Price Action: HII shares are trading higher by 0.39% at $210.49 on the last check Tuesday.
Photo Via Company