General Dynamics NASSCO, DSEC, Samsung Heavy Industries Ink Shipbuilding Deal

(RTTNews) - General Dynamics NASSCO, a business unit of General Dynamics Corporation (GD), DSEC Co., Ltd., together with Samsung Heavy Industries Co., Ltd. (010140.KS, SMSHF), announced that they have inked a tri-party memorandum of agreement.

This will allow the companies to collaborate on ship design, manufacturing automation, and technology in the U.S. market.

"The partnership will advance all three companies' endeavors into commercial, naval, and other government shipbuilding projects, including the U.S. Navy's Next Generation Logistics Ship, and will leverage decades of common experience and success teaming in U.S.-South Korean shipbuilding," General Dynamics said.