Market Overview

General Dynamics Wins $225M Navy Deal For Nuclear Submarines

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General Dynamics Corp.'s (NYSE: GD) Electric Boat division recently secured a modification contract for economic ordering quantity material associated with the fiscal 2019-2023 Virginia class submarines. Work related to the deal is scheduled to be completed by January 2019.

Details of the Deal

Valued at $225 million, the contract was awarded by Naval Sea Systems Command, Washington, D.C. Electric Boat will utilize fiscal 2018 shipbuilding and conversion (Navy) funds to finance the task.

Work for the modification will be carried out in Spring Grove, IL; Bethlehem, PA; and several different locations across the United States.

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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