GD Awarded $7 M for Virginia-class Submarine Work

General Dynamics Electric Boat has been awarded a $6.8 million U.S. Navy contract modification to design and procure a common controller for various shipboard functions on Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

This modification is part of an overall engineering contract supporting the Virginia-class submarine program.  The contract was initially awarded in July 2010 and has a potential value of $881 million over a total of five years if all options are exercised and funded.

Source: General Dynamics Corporation (NYSE: GD)
Date: May 22, 2012