General Dynamics Corp. (GD)

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U.S. Navy Awards General Dynamics $116 Million for Virginia Payload Module Development

GROTON, Conn., July 6, 2016 /PRNewswire/ -- General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines, boosting strike capacity by 230 percent.

More information on Electric Boat is available at www.gdeb.com.

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

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-navy-awards-general-dynamics-116-million-for-virginia-payload-module-development-300294634.html

SOURCE General Dynamics Electric Boat