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Friday, Oct 28, 2016

US Navy Awards GD $322 M for Nuclear-Submarine Support Work

The U.S. Navy has awarded a $321.7 million contract option to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under this option, Electric Boat will provide design, engineering, material and logistics support, and research and development activities for active U.S. submarines and submersibles. Electric Boat also will provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support, and affordability/cost reduction support.

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The contract will be worth approximately $1.5 billion over five years if all options are exercised and funded.

This work will engage Electric Boat's engineering and design organization, which comprises more than 4,400 employees. Possessing proven technical capabilities, these employees work on all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

Source : General Dynamics Corporation (NYSE: GD) - view original press release

Published on ASDNews: Sep 17, 2015


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