General Dynamics $7M Advanced Sub Technologies Contract

Friday, December 10, 2010

General Dynamics Electric Boat has been awarded a $7.4m contract modification by the U.S. Navy to develop advanced submarine technologies for current and future undersea platforms. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under this award Electric Boat will perform advanced submarine research and development studies in support of a wide range of technology areas including manufacturing, maintenance, survivability, hydrodynamics, acoustics and materials. Electric Boat also will conduct research and development work in areas such as manning, hull integrity, performance, ship control, logistics, weapons handling and safety.

The contract also supports near-term Virginia-class technology insertion, identification of Ohio-class replacement technology options, future submarine concepts and core technologies.

If all options are exercised and funded, the contract has a potential value of $711.4m over a total of five years. This work will help support the more 3,000 design and engineering personnel employed at Electric Boat.

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