General Dynamics [GD] yesterday said it has completed its purchase of the Norfolk, Va.-based naval ship repair company Metro Machine Corp., giving it an opportunity for additional work maintaining and serving Navy ships.
“The addition of Metro Machine enhances our ability to compete in the growing naval ship repair market,” Fred Harris, president of GD’s NASSCO shipbuilding and repair division, said in a statement. For San Diego-based NASSCO, the Metro Machine acquisition provides a foothold on the East Coast to repair Navy ships.
Metro Machine is a prime contractor for the Navy’s multi-ship, multi-option contracts for combat and support ships, including frigates, dock landing ships and amphibious transport ships. At Norfolk, it competes with Britain’s BAE Systems for much of the Navy’s repair work.
As defense budgets tighten, the Navy is expected to extend the life of some of its ships.
GD has not disclosed the value of the acquisition.