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General Dynamics Receives $126M Contract Modification for Navy Submarine Missile Tube Components

General Dynamics‘ (NYSE: GD) Electric Boat subsidiary has received a five-year, $126.2 million contract modification from the U.S. Navy to obtain long-lead-time materials for the missile tube of Columbia-class ballistic missile submarines.

This submarine missile tube is part of the joint U.S./U.K Common Missile Compartment program, the Defense Department said Monday.

Seventy-two percent of contract purchases are from the Navy and the remaining 28 percent are from the British government under the foreign military sales program.

Electric Boat will perform work under the modification through December 2023.

The Naval Sea Systems Command will obligate $79.7 million at the time of award from the Navy’s fiscal 2018 shipbuilding and conversion budget funds along with U.K. funds.

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