General Dynamics Awarded $6 Million to Support Post-shakedown Work on Submarine Texas
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $6.3 million contract modification to procure long-lead-time material in support of the USS Texas post-shakedown availability (PSA). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The award is in anticipation of an $85 million contract the Navy in January announced that it would assign to Electric Boat. This work will comprise maintenance, repairs, alterations, testing and other activities and is scheduled to begin in early 2007 following completion of Texas’ shakedown period. Most of the PSA will be performed at Electric Boat’s shipyard here, and is expected to be completed in December 2007.
The second ship of the Virginia Class, Texas was delivered to the Navy in June by Northrop Grumman, Electric Boat’s teammate in the Virginia-class submarine construction program. Electric Boat and Northrop Grumman have received contracts to produce 10 Virginia-class ships.
Electric Boat delivered the first ship of the class, USS Virginia (SSN-774), in October 2004 and is now performing a PSA on that ship. This work, also worth about $85 million, is scheduled for completion in December.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 81,900 people worldwide and had 2005 revenue of $21.2 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information can be found online at http://www.generaldynamics.com.
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July 28, 2006
Contact: Dan Barrett
Tel: (860) 433-8202
Email: dbarrett@ebmail.gdeb.com
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