December 27, 2006 |
For the Hawaii, the newest Virginia-class fast-attack nuclear submarine, the party was a cheerful bon voyage. After seven years of construction, the $2.5-billion Hawaii -- Electric Boat's 100th nuclear submarine -- was handed over to the Navy in a chilly dockside ceremony at the company's Groton shipyard last week, beating the end-of-the-year delivery deadline by nine days.
December 15, 2005 |
Defense contractor General Dynamics Corp. moved to bolster its presence in the information technology market, announcing plans Wednesday to acquire Anteon International Corp. of Fairfax, Va., for $2.1 billion. Under the deal, General Dynamics would pay $55.50 in cash for each Anteon share, a 36% premium over Anteon's closing price Tuesday of $40.77. The overall deal is valued at $2.2 billion, including the assumption of $100 million of debt. Anteon shares rose $13.25, or 33%, to $54.02.
December 7, 2005
* Swiss drug maker Novartis won U.S. regulatory approval to buy the 58% stake of vaccine maker Chiron Corp. of Emeryville., Calif., that it didn't already own. * General Dynamics Corp. said it would fire as many as 2,400 employees, or about 20% of the workforce at its Electric Boat shipyard, as the U.S. Navy cuts back on submarine orders.
November 24, 2005 |
The Pentagon has approved construction of eight DD(X) destroyers being developed by Northrop Grumman Corp. and General Dynamics Corp. -- a potential $20-billion order -- a Defense Department official said Wednesday.
April 21, 2005 |
The Pentagon on Wednesday rejected for now a Navy plan under which Northrop Grumman Corp. and General Dynamics Corp. would compete for, rather than split, a potential $20-billion contract to build a new class of guided missile warship. The action dovetails with moves in Congress aimed at blocking a winner-take-all approach, which the Navy has said could trim $300 million from the cost of each of the new surface combatant warships, known as DD(X).
December 18, 2004 |
Wyle Laboratories Inc. will buy the aeronautics services business of General Dynamics Corp., positioning Wyle to pursue additional Defense Department contracts. Financial terms weren't disclosed. The purchase will essentially double the size of privately held Wyle, an El Segundo-based provider of testing, research and engineering services. General Dynamics' aeronautics services business, based in Lexington Park, Md.