This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

General Dynamics Awarded $52 Million For Maintenance Work On USS Mississippi

GROTON, Conn., Jan. 16, 2013 /PRNewswire/ -- General Dynamics Electric Boat has been awarded a $51.7 million contract modification by the U.S. Navy to plan and perform the post-shakedown availability (PSA) on the nuclear submarine USS Mississippi (SSN-782).  Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The PSA includes maintenance, repairs, alterations and testing.  It will be performed at Electric Boat's Groton shipyard.  Up to 400 employees will be engaged in the work, which is scheduled for completion by December 2013.

Initially awarded in April 2012, the contract has a total potential value of $67 million.

In May 2012, Electric Boat delivered Mississippi to the U.S. Navy a year ahead of contract schedule and more than $60 million below target cost.

Mississippi is the ninth ship of the Virginia Class, the most advanced submarines in the world. These ships are providing the Navy with the capabilities it requires to retain its undersea dominance well into the 21st century.

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

SOURCE General Dynamics Electric Boat

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs