Leonardo DRS Signs Land Lease to Build State-of-the-Art Naval Propulsion Manufacturing and Test Facility Near Charleston, S.C.
Leonardo DRS, Inc. (DRS)
Company Research
Source: Business Wire
Facility will boost company capability to support U.S. Navy priority programs and spur economic growth in region ARLINGTON, Va.--(BUSINESS WIRE)--Leonardo DRS, Inc. (NASDAQ: DRS) announced today that it has signed a ground lease in the Charleston, South Carolina metropolitan area to develop a state-of-the-art manufacturing facility, allowing the company to grow its naval propulsion capability and streamline its support of priority U.S. Navy programs.When complete there will be over 140,000 square feet of purpose-built advanced manufacturing, assembly and testing space representing an approximate net investment of $120 million by DRS. The new capabilities made possible by this investment will play a key role in the continued expansion of propulsion system integration and testing for the company. Initial occupancy is targeted for 2026.“We are proud to be building the next-generation electric propulsion system components for the new Columbia-class ballistic missile submarine,” said Le
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- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/9/24 - Form DEFA14A
- DRS's page on the SEC website