The U.S. Navy has awarded
General Dynamics Electric Boat a $47.7 million contract modification for
nuclear-submarine work.
Electric Boat is a wholly owned subsidiary of General
Dynamics.
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Under the terms of the contract modification, Electric Boat will provide
design agent, planning yard, engineering and technical support for nuclear
submarines. Electric Boat will also provide research and development support
for submarine research vehicles. Initially awarded March 3, the contract
could be worth more than $1.1 billion over five years if all options are
exercised and funded, a press release states.
Sixty-two percent of the work will be performed at Groton; 18 percent at
Bangor, Wash.; 14 percent at Kings Bay, Ga.; 5 percent at Newport, R.I., and 1
percent at Quonset Point, R.I. Work performed under this modification is
expected to be completed by November 2006.
General Dynamics, headquartered in Falls Church, Virginia, employs
approximately 71,600 people worldwide and anticipates 2004 revenue in excess
of $19 billion.
