General Dynamics Awarded $174 Million Contract by U.S. Navy

General Dynamics Electric Boat has been awarded a $174.5 million contract modification by the U.S. Navy to provide lead-yard services for Virginia-class nuclear-powered attack submarines. Electric Boat is a wholly owned subsidiary of General Dynamics GD. Under the modification, Electric Boat will maintain and update design drawings and data, including technology insertions, for each Virginia-class submarine throughout its construction and post-shakedown availability periods. Additionally, Electric Boat will perform research and development work required to evaluate new technology to be inserted in newly built Virginia-class ships. The contract has a potential cumulative value of $881 million through 2014 if all options are exercised and funded.