The U.S. Navy has awarded General Dynamics Electric Boat an $11 million contract to perform non-nuclear maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
With this modification, Electric Boat will continue operating the New England Maintenance Manpower Initiative (NEMMI) at the submarine base. Electric Boat will provide a wide range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks, support and service craft and other platforms and equipment at the submarine base. Approximately 270 Electric Boat employees are engaged in the work.
This contract was first awarded in December 2012 and has a potential value of $222.3 million over five years.