U.S. Navy Awards General Dynamics $16 Million for Nuclear Submarine Services

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Aug 09, 2012, 10:00 ET

GROTON, Conn., Aug. 9, 2012 /PRNewswire/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $16.3 million contract to perform nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the contract, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs. A core group of approximately 25 Electric Boat employees are assigned to the NRMD, with surge groups of up to 100 shipyard employees assigned for short periods.

The contract has a potential value of $23.6 million over 9 months.

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

www.gdeb.com

SOURCE General Dynamics Electric Boat