General Dynamics Receives $13 Million Navy Award for Common Missile Compartment Development

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Jan 18, 2013, 10:00 ET

GROTON, Conn., Jan. 18, 2013 /PRNewswire/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $12.8 million contract modification for the continued development of the Common Missile Compartment for the U.S. Ohio Replacement Program and the United Kingdom's Successor ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the modification, Electric Boat will procure prototype material and equipment to be used in the production of the Common Missile Compartment.

The award modifies a $76 million contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines being developed for the U.S. Navy and the Royal Navy. This modification brings the total amount awarded under the contract to more than $770 million.

This work will engage Electric Boat's engineering and design organization, which comprises more than 4,000 employees. Possessing proven technical capabilities, these employees work on all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

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

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SOURCE General Dynamics Electric Boat