GD Wins $8m for Virginia-class Sub Work

(Press Release)
Friday, February 24, 2012
General Dynamics Electric Boat has been awarded an $8.3 million contract modification by the U.S. Navy to procure components for Virginia-class nuclear-powered attack submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). Under the contract modification, Electric Boat will procure material for the construction of Advanced Integrated Low Pressure Electrolyzers used on Virginia-class submarines. The lead-yard services contract being modified has a potential cumulative value of $881m through 2014 if all options are exercised and funded.
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