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General Dynamics Electric Boat Lands Potential $138M Navy Submarine R&D Support Contract

General Dynamics‘ (NYSE: GD) Electric Boat subsidiary has secured a potential $137.9 million contract to support a U.S. Navy research and development program aimed at formulating submarine concepts.

Electric Boat will provide engineering and technical design services to the Navy and a foreign military sales customer under the cost-plus-fixed-fee contract, the Defense Department said Thursday.

The contract has an initial value of $25.5 million and the base period of performance will run through October.

The Navy will obligate $100,000 at the time of award from its fiscal 2018 research, development, test and engineering funds.

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