General Dynamics Electric Boat has been awarded a $100.4 million contract modification by the U.S. Navy to provide lead-yard services for Virginia-class nuclear-powered attack submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the contract, Electric Boat will develop, maintain and update design drawings and data, including technology insertions, for each Virginia-class submarine throughout its construction and post-shakedown availability periods.
The contract has a potential cumulative value of $881 million through 2014 if all options are exercised and funded.