U.S. Navy Awards General Dynamics $7 Million for Nuclear-Submarine Materials

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Nov 10, 2010, 10:30 ET

GROTON, Conn., Nov. 10, 2010 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $7.3 million order on a previously awarded contract for the procurement of long-lead-time materials for nuclear submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the order, Electric Boat will procure long-lead-time materials and machining for Ohio-class submarines. The order is part of a contract initially awarded in October 2010; if all options are exercised and funded, the contract will be worth approximately $1.2 billion over three years.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 90,000 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