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Business and Economy

Wisconsin Shipyard Wins Contract To Build Navy Frigates

PORTLAND, Maine - A Wisconsin shipbuilder has won a contract to build up to 10 frigates for the Navy, a contract Maine's Bath Iron Works also sought to win. The $795 million contract calls for Fincantieri Marinette Marine to move forward with design and construction of the lead ship with options for up to nine more frigates. Officials say the contract carries a value of $5.6 billion if all 10 ships are built.

The Navy pressed to expedite the process by asking shipyards to use existing ship designs.

Three other shipyard were finalists: General Dynamics' Bath Iron Works, Austal USA of Alabama, and Huntington Ingalls of Mississippi.