U.S. Navy Awards General Dynamics $9 Million for Ohio-Replacement Submarine Work

Dec 07, 2010, 10:00 ET from General Dynamics Electric Boat

GROTON, Conn., Dec. 7, 2010 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat an $8.8 million order under an existing contract to support engineering and design services for the Ohio Replacement Program, the nation's next-generation strategic deterrent submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The award modifies a $76 million contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines being developed for the Royal Navy and the U.S. Navy.

If all options are exercised and funded, the overall contract would have a value of more than $652 million.

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

SOURCE General Dynamics Electric Boat