General Dynamics, Oceaneering to Continue Support for Navy Submarine Safety Program

submarineThe U.S. Navy has awarded contract modifications worth $86.6 million combined to General Dynamics‘ (NYSE: GD) Electric Boat subsidiary and Oceaneering International (NYSE: OII) to support safety efforts and material work on the military branch’s submarines.

The Defense Department said Friday the contract covers support for Seawolf-class,  Los Angeles-class, Ohio-class and Virginia-class submarines as well as national submarines of foreign military customers.

Electric Boat and Oceaneering will  provide technical management, materials, tools, equipment, facilities and administrative and technical services to aid installation, troubleshooting, repair and maintenance of main and auxiliary, weapons, hull, mechanical and electrical equipment, DoD added.

Work will occur at naval shipyards in Norfolk, Virginia; Puget Sound, Washington; and Pearl Harbor, Hawaii through February 2018.

The Navy awarded the modifications to exercise the fourth option year on Electric Boat’s and Oceaneering’s contracts and the Naval Surface Warfare Center will obligate funds based on individual delivery orders, DoD noted.

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