GD Receives $16 M Navy Award for Common Missile Compartment Work

The U.S Navy has awarded General Dynamics Electric Boat a $15.8 million contract modification for continued engineering, technical services, concept studies and design in support of the Common Missile Compartment under development 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 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 $651 million.

Source: General Dynamics Corporation (NYSE: GD)
Date: Jul 13, 2011