General Dynamics Corp. (GD)

[ProfitScout]

General Dynamics Receives $96 Million U.S. Navy Award for Continued Columbia-Class Submarine Development

GROTON, Conn., April 26, 2017 /PRNewswire/ -- The U.S Navy has awarded General Dynamics Electric Boat a $95.5 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy's Columbia-class submarine and the Royal Navy's Dreadnought-class ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The contract modification will enable procurement of 17 missile tubes which will support the manufacture 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 $2.5 billion.

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

https://mma.prnewswire.com/media/81320/general_dynamics_logo.jpg


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/general-dynamics-receives-96-million-us-navy-award-for-continued-columbia-class-submarine-development-300446541.html

SOURCE General Dynamics Electric Boat