Navy Awards General Dynamics $6m Contract
The U.S. Navy has awarded General Dynamics Electric Boat a $6.3m modification to a previously awarded contract for management and support of nuclear-maintenance work for submarines homeported at the Naval Submarine Base New London in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE:GD) .
Under the terms of the contract modification, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through Sept. 30, 2009. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs. A core group of about 25 Electric Boat employees are assigned to the NRMD, with surge groups of up to 100 shipyard employees assigned for short periods.
The contract was initially awarded in December 2005 and has a potential value of $100.5m over four years.