GROTON, Conn., Nov. 15, 2013 /PRNewswire/ -- The U.S Navy has awarded General Dynamics Electric Boat a $22.5 million contract modification for the continued development of the Common Missile Compartment for the U.S. Ohio replacement submarine and the United Kingdom's Successor ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Electric Boat will procure and test equipment to be used in the production of the Common Missile Compartment. Initially awarded in December 2012, the five-year, $1.85 billion contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.9 billion.
This work will engage Electric Boat's engineering and design organization, which comprises more than 4,000 employees. Possessing proven technical capabilities, these employees work on all facets of the submarine lifecycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.More information about General Dynamics is available at www.generaldynamics.com. SOURCE General Dynamics Electric Boat
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV