GDEB Awarded $251M in Navy Contracts to Support Fleet Maintenance and Virginia-class Sub Development and Design Work

General Dynamics Electric Boat, a business unit of General Dynamics (NYSE:GD), was awarded two U.S. Navy contracts this week with a total value of $251 million.

The first contract is a $215.7 million modification to a previously awarded contract, the cumulative value of which, if all options are exercised, could be more than $1 billion.  Electric Boat will provide planning yard, design agent, engineering services and technical support for in-service submarines and submersible systems. The second contract is a $35.3 million cost-plus-fixed-fee contract for Reactor Plant Planning Yard services for the submarine fleet and Support Yard services for the Navy’s Moored Training Ships.

“The shipbuilders of Electric Boat are proud to be a partner to the U.S. Navy, and continue to execute our mission to provide our sailors with the advantage that helps protect our Navy and our nation,” said Kevin Graney, president of General Dynamics Electric Boat. “We continue to work to hire, train and develop future generations of shipbuilders as we continue to deliver the Virginia class of fast attack submarines and move toward full-scale construction of the Columbia class of ballistic missile submarines.” 

Source: General Dynamics Electric Boat
Date: Oct 6, 2020