General Dynamics NASSCO and Daewoo Ship Engineering Company Announce Agreement to Build Jones Act Ships.

0 Comments | M2 Presswire, April, 2006

M2 PRESSWIRE-4 April 2006-General Dynamics: General Dynamics NASSCO and Daewoo Ship Engineering Company Announce Agreement to Build Jones Act Ships(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:03042006 SAN DIEGO - General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), and Daewoo Ship Engineering Company (DSEC), a wholly owned subsidiary of Daewoo Shipbuilding and Marine Engineering (DSME) based in Busan, Korea, today announced a formal teaming agreement to build ships for the U.S.

market under the Jones Act. The Jones Act, among its many provisions, requires ships that carry cargo between U.S. ports to be built in the United States. Under the agreement, DSEC will provide the detail designs, support services and some of the material...