GD $9m for Ohio-Replacement Submarine Work

The U.S Navy awarded General Dynamics Electric Boat an $8.8 million order under an existing contract to support engineering and design services for the Ohio Replacement Program, the nation’s next-generation strategic deterrent submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The award modifies a $76 million contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines being developed for the Royal Navy and the U.S. Navy. If all options are exercised and funded, the overall contract would have a value of more than $652 million.