The U.S. Navy has awarded General Dynamics Electric Boat a contract to perform submarine safety program (SUBSAFE) and intermediate submarine maintenance work for submarines. This five-year, indefinite delivery, indefinite quantity contract has a potential value of $215.5 million. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Electric Boat will provide technical management, administrative and technical services, tools, equipment and facilities and required support to accomplish installation, repair and maintenance of weapons, hull, mechanical and electrical equipment.
Electric Boat has performed SUBSAFE work for the Navy for more than four decades and is a proven provider of intermediate-level maintenance and modernization activities.
Source: General Dynamics Corporation (NYSE: GD)
Date: Mar 1, 2013