General Dynamics Awarded $15.5 Million Contract for Submarine Engineering Work
General Dynamics Awarded $15.5 Million Contract for Submarine Engineering WorkThursday October 14, 10:20 am ET
GROTON, Conn., Oct. 14 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat a contract modification for engineering and life-cycle support work worth $15.5 million. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD - News).
This award modifies a $13.4 million contract originally announced in October 2002 for reactor-plant planning yard work. This work encompasses engineering services for life-cycle support, maintenance and modernization of the reactor plants and selected propulsion-plant systems on Los Angeles, Trident and Seawolf-class submarines, and the nuclear research submarine NR-1. Additionally, Electric Boat will provide similar services for all systems on the Navy's moored training ships in Charleston, S.C.
If all options are exercised and funded, the contract would be worth $79.8 million over a five-year period ending in 2007.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 70,000 people worldwide and anticipates 2004 revenue of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information about the company is available on the Internet at http://www.generaldynamics.com.
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Source: General Dynamics Electric Boat
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