GD Awarded $26 M for Common Missile Compartment Work

(Groton, Conn., February 17, 2010) -- General Dynamics Electric Boat has been awarded a $26.3 million contract modification by the U.S. Navy to continue procurement of prototype material as well as manufacturing and testing activities for the Common Missile Compartment, which is under development for the U.S. Ohio-class replacement submarine and for the United Kingdom's Successor ballistic-missile 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 being developed 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 $630 million.

Source : General Dynamics Corporation (NYSE: GD)