GD Awarded $51M Contract Modification

Thursday, January 16, 2003
The U.S. Navy has awarded General Dynamics Electric Boat a $51 million contract modification for nuclear-submarine work. Electric Boat is a wholly owned subsidiary of General Dynamic The contract was initially awarded in May 1999 and could be worth more than $742 million over five years if all options are exercised and funded. Under the terms of the modification, Electric Boat will provide design, engineering, material and logistics support for the Trident program, the Trident U.K. program, the two operational Seawolf-class submarines, NR-1, and efforts supporting Los Angeles-class ships. Electric Boat will also provide planning, scheduling and technical support for submarine maintenance activities. Sixty percent of the work will be performed at Groton; 18 percent at Bangor, Wash.; 11 percent at Kings Bay, Ga.; 6 percent at Newport, R.I., and 5 percent at Quonset Point, R.I. Work performed under the modification is expected to be completed by September 2003.
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