GD Receives $21 M for Submarine Planning Services

The U.S. Navy awarded General Dynamics Electric Boat a $21.1 million contract to perform reactor-plant planning yard services for nuclear submarines and support yard services for moored training ships. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The contract has a potential value of $121.2 million through 2016 if all options are exercised and funded. This work will engage Electric Boat's engineering and design organization, which comprises more than 3,000 employees. Possessing proven technical capabilities, these employees work on all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

Source: General Dynamics Corporation (NYSE: GD)
Date: Nov 10, 2011