General Dynamics Awarded $12 M Contract Modification for Submarine Support Work

(Groton, Conn., March 23, 2007) -- The U.S. Navy has awarded General Dynamics Electric Boat an $11.9 million contract modification for nuclear-submarine and shore support facility work. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract modification, Electric Boat will provide management, design and installation services for shore-support facilities consolidations and retrofitting of operational nuclear submarines. Initially awarded in March 2004, the contract could be worth more than $1.1 billion over five years if all options are exercised and funded. The work is expected to be completed by March 2009.

Source : General Dynamics

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