General Dynamics Receives $15 Million U.S. Navy Award for Common Missile Compartment Development

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Jan 10, 2014, 10:00 ET

GROTON, Conn., Jan. 10, 2014 /PRNewswire/ -- The U.S Navy has awarded General Dynamics Electric Boat a $15 million contract modification to continue development of the Common Missile Compartment for the Ohio replacement submarine and the United Kingdom's Successor ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Electric Boat will procure long-lead-time material for the Common Missile Compartment's integrated missile-tube and hull. 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 $2.3 billion.

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 lifecycle 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