General Dynamics Awarded $43 Million Contract for Submarine Support Work
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $43.3 million contract modification for planning yard work, engineering and technical support for nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of this modification, Electric Boat will provide support for submarine research, development, test and evaluation. Initially awarded in March 2004, the contract could be worth more than $1.1 billion over five years if all options are exercised and funded.
Work performed under this modification is expected to be completed by February 2009.
General Dynamics, headquartered in Falls Church, Va., employs approximately 81,000 people worldwide and had 2006 revenues of $24.1 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 about the company is available online at www.generaldynamics.com.
February 14, 2007
Contact: Robert A. Hamilton
Tel: (860) 433-8556
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