The U.S. Navy has awarded General Dynamics Electric Boat a $25.7 million contract to prepare and perform maintenance and modernization work on the USS Providence (SSN-719), a Los Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract, Electric Boat will perform a dry-docking continuous maintenance availability, which consists of maintenance work, upgrades and modernization activities required to ensure the submarine is operating at full technical capacity. The work will take place at the Electric Boat shipyard in Groton and involve up to 300 employees at its peak. The work is scheduled for completion in April 2014.
Source: General Dynamics Corporation (NYSE: GD)
Date: Sep 30, 2013