General Dynamics Receives $6 Million Navy Award for Common Missile Compartment Work

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May 06, 2010, 12:00 ET

GROTON, Conn., May 6 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $6.4 million contract modification to design special tooling for the Common Missile Compartment under development for the United Kingdom's Successor ballistic-missile submarine and the U.S. Ohio replacement submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

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 Royal Navy and the U.S. Navy.

If all options are exercised and funded the overall contract would have a value of more than $638 million.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 91,200 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.

SOURCE General Dynamics Electric Boat