U.S. Navy Awards General Dynamics $116 Million for Virginia Payload Module Development

GROTON, Conn., July 6, 2016 /PRNewswire/ -- General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines, boosting strike capacity by 230 percent.