General Dynamics Granted $19 Million Contract by American Navy - General Dynamics (NYSE:GD)

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General Dynamics Corporation (NYSE: GD)'s subsidiary, General Dynamics Electric Boat, has been granted an $18.9 million contract modification for the continued development of the Virginia Payload Module (VPM). General Dyanamics' unit said that the funds would be used to procure two VPM pre-production setups to support the manufacturing start of the VPM payload tubes. The company added that the VPM would consist of four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines.The company indicated that the latest modification contract brought the cumulative value of the overall Virginia-class Lead Yard Services contract to $1.46 billion. The company added that the contract was initially awarded in 2010.On Tuesday, the stock advanced 1.40 percent.

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