General Dynamics Electric Boat, a General Dynamics (NYSE: GD) subsidiary, has won a combined $56.7 million through two U.S. Navy contract awards to modernize, develop and maintain submarines and undersea platforms.
The $41.6 million award calls for Electric Boat to continue operating the Groton Naval Submarine Base’s New England maintenance manpower initiative.
About 270 company employees will help repair, modernize and support submarines, service aircraft, floating dry docks and additional base equipment.
The remaining $15.1 million contract modification allocates funds for the company to perform advanced submarine research and development studies supporting survivability, hydrodynamics, acoustics, manufacturability, materials and maintainability.
The contract was originally awarded in Novemeber 2010 and has an overall potential value of $711.4 million over a five-year period if all options are exercised and funded.
The modification and will support identification of Ohio-class replacement technology options, near-term Virginia-class technology insertion, future concepts and core technologies.