General Dynamics Corp. (GD)

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General Dynamics Electric Boat Awarded $533 Million for Virginia-Class Submarine Support

GROTON, Conn., Oct. 6, 2022 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it was awarded a U.S. Navy contract modification for lead-yard support, development studies and design efforts related to Virginia-class attack submarines.

General Dynamics Electric Boat was awarded a U.S. Navy contract modification for lead-yard support, development studies and design efforts related to Virginia-class attack submarines.

The contract modification has a value of $532.9 million. Work will be performed in Groton, Connecticut, and Newport News, Virginia, and is expected to be completed by October 2023.

"We are proud to continue to support the design and engineering of Virginia-class submarines to ensure they have the superior warfighting capabilities the U.S. Navy needs to defend our Nation," said Kevin Graney, president of Electric Boat. "The continued evolution of the Virginia class over the last two decades guarantees our sailors the asymmetric advantage they deserve."

General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. Headquartered in Groton, the company employs approximately 18,000 people. More information about General Dynamics Electric Boat is available at http://www.gdeb.com.

General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $38.5 billion in revenue in 2021. More information about General Dynamics is available at http://www.gd.com.

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SOURCE General Dynamics Electric Boat