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Update: Market Chatter: Bisalloy Steel Group Gets $2 Million Order From General Dynamics Electric Boat

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(Updates with a statement from General Dynamics Electric Boat in the last paragraph.)

Bisalloy Steel Group (ASX:BIS) secured a $2 million purchase order from US defense contractor General Dynamics Electric Boat to supply steel for the construction of Virginia-class submarines, The Australian reported Wednesday, citing Australian Defense Industry Minister Pat Conroy.

In remarks delivered at the Australian embassy in Washington, Conroy said Australia-made steel will be used for US Virginia-class submarines for the first time, according to the report.

General Dynamics Electric Boat toldit doesn't have any prepared comments on the matter, while Bisalloy Steel did not immediately respond to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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