GD Awarded $118 M by US Navy for Common Missile Compartment Work

(Groton, Conn., January 22, 2010) -- General Dynamics Electric Boat has been awarded a $118 million contract modification by the U.S. Navy to continue concept studies, engineering and design of a Common Missile Compartment for the United Kingdom's Successor ballistic-missile submarine and the U.S. Ohio replacement submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The award modifies a $76 million contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines under development for the Royal Navy and the U.S. Navy.

If all options are exercised and funded, the overall contract would have a value of more than $600 million.

Source : General Dynamics Corporation (NYSE: GD)