GDEB Awarded $1.85Bn Contract Modification for Long Lead Time Material and Preliminary Construction for Submarine Production

General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today that it was a­­­warded a $1.85 billion contract modification to a previously awarded contract supporting submarine production. This modification is for long lead time material and preliminary construction efforts for submarine production, as detailed in the June 26 U.S. Department of Defense contract award announcement.

"This contract modification allows for the acquisition of critical material and components for Virginia-class submarines that require substantial lead time to manufacture and deliver. It sends a continued demand signal, supporting supplier investment in the capacity and materials needed to achieve our required production volume," said Mark Rayha, president of General Dynamics Electric Boat. "Consistent funding and support such as this contract modification is essential for the shipyards to achieve the high-rate production of submarines the Navy needs."