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Navy Awards $14 Billion Contract for Eight Virginia-Class Submarines GROTON, Conn. --- The U.S. Navy today reaffirmed the strategic need for a robust, adaptable submarine force by awarding General Dynamics Electric Boat a contract valued at $14 billion for the construction of eight Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics. The multi-year contract allows Electric Boat and its teammate, Northrop Grumman Shipbuilding, to proceed with the construction of one ship per year in 2009...read more

Defense Sector Outperforms S&P500 for Ninth Consecutive Year WASHINGTON, DC: Although the worst year the stock market has seen since the 1930s, aerospace and defense companies continued to outperform the broader markets, with the benchmark SPADE Defense Index (NYSE Alternext US: DXS) outperforming the S&P500 for the ninth consecutive year, a Marketwire press release said. An 8.21% surge in December saw the sector, which trailed the market most of the year, end on a positive note. Although the i...read more

India to buy Boeing P-81 long range maritime reconnaissance aircraft: news report India is likely to buy Boeing’s P-81 long range maritime reconnaissance aircraft for the Indian Navy from Boeing, a report in the Times of India reported. "Virtually all the steps required for the contract to be signed, including tabling of it in the Cabinet Committee on Security for approval, have been completed”, the report said quoting unnamed sources. The contract is reported to be worth US$ 1.8 billion current INR to Dollar conversion rate. The fi...read more

Brazilian Navy Signs Contract for Submarines As part of a strategic partnership between Brazil and France, contracts were signed today covering, on the one hand, the acquisition and construction in Brazil of four Scorpene conventionally-powered submarines and, on the other hand, the development and the construction of a single nuclear-powered submarine. All of the nuclear power plant will be developed exclusively by Brazil. For the implementation of these two projects, it is contractually foreseen th...read more

General Dynamics Awarded $217 Million Vehicle Order by Swiss Army FALLS CHURCH, Va. --- MOWAG GmbH, a unit of General Dynamics European Land Systems, has been awarded an order valued at $217 million for 244 DURO and PIRHANA vehicles, to be produced in Kreuzlingen, Switzerland. The vehicles will be delivered between 2010 and 2012. The order, awarded by armasuisse, the Swiss defense department's procurement organization, is for 220 DURO IIIP 6x6 wheeled armored personnel vehicles; 12 DURO IIIP 6x6 wheeled vehicles that wil...read more

 
 
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