General Dynamics Receives $15M US Navy Contract


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The U.S Navy has awarded General Dynamics Electric Boat a $15 million contract modification to continue development of the Common Missile Compartment for the Ohio replacement submarine and the United Kingdom's Successor ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).Electric Boat will procure long-lead-time material for the Common Missile Compartment's integrated missile-tube and hull. Initially awarded in December 2012, the five-year, $1.85 billion contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.3 billion. See full press release

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