General Dynamics Awarded $12 Million for Virginia-Class Repair Parts

Jan 24, 2013, 10:00 ET from General Dynamics Electric Boat

GROTON, Conn., Jan. 24, 2013 /PRNewswire/ -- General Dynamics Electric Boat has received an $11.5 million contract modification from the U.S. Navy to provide on-board repair parts for Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The modification was exercised under the $14 billion contract awarded to Electric Boat in December 2008 for the construction of eight Virginia-class submarines, and has a potential value of $85 million.

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SOURCE General Dynamics Electric Boat