The U.S. Navy has awarded Electric Boat a $57.2 million contract to prepare and perform maintenance work on the USS Minnesota (SSN-783), a Virginia-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 post-shakedown availability on the Minnesota, which consists of maintenance work, repairs, alternations and testing 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 600 employees at its peak. The work is scheduled for completion in February 2015.
Source: General Dynamics Corporation (NYSE: GD)
Date: Mar 11, 2014