Skip to main content

Market Overview

U.S. Navy Awards General Dynamics $20 Million for Nuclear Submarine Services

Share:

The U.S. Navy has awarded General Dynamics Electric Boat a $20 million contract modification for nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the contract, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base. The company will provide project management, planning, training and nuclear services to support maintenance, modernization and repairs. A core group of about 25 Electric Boat employees are assigned to the NRMD, with surge groups of up to 100 shipyard employees assigned for short periods.

The company has been awarded two initial contract modifications to date, valued at $25 million. The contract has a total potential value of $164 million over five years.

More information about General Dynamics is available at www.generaldynamics.com.  More information about General Dynamics Electric Boat is available at www.gdeb.com.

SOURCE General Dynamics Electric Boat

Website: http://www.gdeb.com Contact: Media: Robert Hamilton, General Dynamics Electric Boat, (860) 433-8556, or Investors: Erin Linnihan, General Dynamics, (703) 876-3583

 

Related Articles (GD)

View Comments and Join the Discussion!

Posted-In: News Contracts

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com