General Dynamics Awarded $321 Million by U.S. Navy for Nuclear-Submarine Support Work
GROTON, Conn. – The U.S Navy has awarded General Dynamics Electric Boat a $320.6 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 the modification, Electric Boat will provide design, engineering, material and logistics support, and research and development activities for active U.S. submarines and submersibles. Electric Boat also will provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support, and affordability/cost reduction support.
Initially awarded in November 2008, the contract being modified has a potential value of $1.8 billion over five years if all options are exercised and funded.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 92,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
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October 6, 2009
Contact: Robert A. Hamilton
Tel: (860) 433-8556
Email: Rhamilt1@gdeb.com
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