Leonardo DRS Receives $45 Million U.S. Navy Investment Commitment to Bolster US Submarine Industrial Base
Leonardo DRS, Inc. (DRS)
Company Research
Source: Business Wire
ARLINGTON, Va.--(BUSINESS WIRE)--Leonardo DRS, Inc. (NASDAQ: DRS) announced today that it has received a $45 million U.S. Navy Submarine Industrial Base (SIB) investment commitment through contracts with HII’s Newport News Shipbuilding. The investment is expected to expand the capabilities of DRS’s new, 140,000 square-foot naval propulsion manufacturing facility currently under-construction in Goose Creek, SC, and includes capital equipment and other infrastructure enhancements.The $45 million SIB investment will serve as a catalyst for a 40,000 square-foot expansion of the facility in support of capabilities critical to current and future U.S. Navy nuclear submarines and aircraft carriers. This investment builds on several Navy funded engineering contracts, including Newport News Shipbuilding, and from General Dynamics Electric Boat previously issued to Leonardo DRS. These contracts, combined with internal investments, will strengthen steam turbine system design, manufacture, int
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- 10/29/25 - Beat
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- 10/30/25 - Canaccord Genuity
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- 12/11/25 - Form 4
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