The U.S. Navy has awarded General
Dynamics Electric Boat a $47.7 million contract modification to perform
routine maintenance and modernization work on the USS Toledo (SSN-769), a Los
Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of
General Dynamics GD.
Under the terms of the contract, Electric Boat will plan and perform a
dry-docking selected restricted availability, which consists of maintenance
work, alterations and modernization activities required to ensure the
submarine is operating at full technical capacity. The work will take place
at the Electric Boat shipyard in Groton and involve up to 300 employees. The
work is scheduled for completion in September 2013.
The contract was initially award in May 2012 and has a potential value of $65
million if all options are exercised.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in