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General Dynamics Electric Boat Wins $100M on $881M Sub Lead Yard Contract

General Dynamics‘ (NYSE: GD) Electric Boat subsidiary has won a $100.4 million contract modification by the U.S. Navy to provide the branch lead-yard work for nuclear-powered attack submarines.

General Dynamics said in a release this recent award is part of a larger contract potentially worth $881 million through 2014, if all options are exercised and funded.

Electric Boat will develop, maintain and update design drawings and data, including technology insertions, for each Virginia-class submarine during its construction and post-shakedown availability periods.

The Groton, Conn.-based subsidiary has more than 4, 000 employees within its engineering and design organization that work on several phases of submarine production lifecycle including, concept formulation, design through construction, maintenance, modernization, inactivation and disposal.

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