Navy Awards General Dynamics $10M For Sub Maintenance and Modernization Work

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Apr 14, 2010, 11:00 ET

GROTON, Conn., April 14 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $10.2 million contract modification to perform maintenance and modernization work on the USS Miami (SSN-755), a Los Angeles-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract, Electric Boat will perform a Docking Continuous Maintenance Availability, which consists of repairs, maintenance work, alterations and testing. The work will take place at Electric Boat's Groton shipyard and involve more than 200 employees at its peak. Scheduled for completion by August 2010, the contract will be worth $12.2 million if all options are exercised and funded.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 91,700 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