General Dynamics Nuclear Submarine Modification Raises Potential Contract Total to Over $692M

General Dynamics‘ (NYSE: GD) electric boat subsidiary has received two U.S. Navy contract modifications worth a combined $32.9 million.

Electric boat will continue developing the common missile compartment for the next-generation strategic deterrent and support nuclear-submarine repair work.

On a $21 million modification to a $76 million 2008 award, Electric Boat will manufacture and test prototype material and equipment to be used in the production of the common missile mompartment for the USS Ohio replacement submarine.

If all options are exercised and funded, the overall contract is now worth more than $692 million.

On an $11.9 million modification to a 2010 basic ordering agreement, Electric Boat will support submarine repair work at Portsmouth Naval Shipyard in Kittery, Maine.

About 200 Electric Boat trades employees will be assigned to maintenance activities scheduled for USS San Juan, USS Pasadena, USS Miami and USS Virginia.

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