General Dynamics Awarded $8 Million by U.S. Navy for Virginia-class Submarine Work

GROTON, Conn. – Gen­er­al Dynam­ics Elec­tric Boat has been award­ed an $8.3 mil­lion con­tract mod­i­fi­ca­tion by the U.S. Navy to pro­cure com­po­nents for Vir­ginia-class nuclear-pow­ered attack sub­marines. Elec­tric Boat is a whol­ly owned sub­sidiary of Gen­er­al Dynam­ics (NYSE: GD).

Under the con­tract mod­i­fi­ca­tion, Elec­tric Boat will pro­cure mate­r­i­al for the con­struc­tion of Advanced Inte­grat­ed Low Pres­sure Elec­trolyz­ers used on Vir­ginia-class sub­marines.

The lead-yard ser­vices con­tract being mod­i­fied has a poten­tial cumu­la­tive val­ue of $881 mil­lion through 2014 if all options are exer­cised and fund­ed.

Source:
Gen­er­al Dynam­ics

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