US Navy Awards GD $44 M for Support Services at Groton Submarine Base
The U.S. Navy has awarded General Dynamics Electric Boat a $44.5 million contract modification to perform non-nuclear maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
With this modification, Electric Boat will continue operating the New England Maintenance Manpower Initiative (NEMMI) at the submarine base. Under the terms of the contract, Electric Boat will provide a wide range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks, support and service craft and other platforms and equipment at the submarine base. About 270 Electric Boat employees are engaged in the work.
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This contract was first awarded in December 2012 and has a potential value of $222.3 million over five years.
Source : General Dynamics Corporation (NYSE: GD) - view original press release
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