General Dynamics Receives $96 Million U.S. Navy Award for Continued Columbia-Class Submarine Development

GROTON, Conn., April 26, 2017 /PRNewswire/ -- The U.S Navy has awarded General Dynamics Electric Boat a $95.5 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy's Columbia-class submarine and the Royal Navy's Dreadnought-class ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics GD.

The contract modification will enable procurement of 17 missile tubes which will support the manufacture of the Common Missile Compartment.

Initially awarded in December 2012, the five-year, $1.85 billion contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.5 billion.

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

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/general-dynamics-receives-96-million-us-navy-award-for-continued-columbia-class-submarine-development-300446541.html

SOURCE General Dynamics Electric Boat

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Press Releases
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!