GD Awarded $14 M For Advanced Sub Technologies and Modernization Services

(Groton, Conn., January 31, 2008) -- The U.S. Navy has awarded General Dynamics Electric Boat a total of $13.7 million to develop advanced submarines technologies for current and future undersea platforms, and to continue operating the New England Maintenance Manpower Initiative (NEMMI). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the $7.5 million NEMMI award, Electric Boat will provide a wide range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks, support and service craft and other platforms and equipment at the Naval Submarine Base in Groton. About 270 Electric Boat employees are engaged in the work.

Initially awarded in October 2006, the five-year NEMMI contract has a potential value of $201.8 million.

Electric Boat also will perform Concept Formulation (CONFORM) studies in support of a wide range of technology areas including manufacturability, maintainability, survivability, hydrodynamics, acoustics and materials under a separate $6.2 million contract modification. Electric Boat also will conduct research and development work in additional areas including manning, hull integrity, performance, ship control, logistics, weapons handling and safety.

The CONFORM contract was initially awarded in November 2006 and, with the exercise of this final option, has a total value of $78 million.

Source : General Dynamics

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