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General Dynamics Subsidiary Gets $346M Virginia-Class Submarine Support Contract Extension

General Dynamics’ (NYSE: GD) Electric Boat subsidiary will continue to provide lead yard support and conduct development studies and design efforts for the U.S. Navy’s Virginia-class submarines through the end of fiscal year 2019 under a $346.5M contract modification.

The modification covers maintenance, engineering, design improvement, systems integration, logistics and production engineering services, the Department of Defense said Friday.

Electric Boat will also support research, development and prototyping of components and systems for insertion in succeeding nuclear-powered submarines of the class.

Majority of work will occur in Groton, Conn., and the Navy will obligate $129.9M at the time of award.

The service awarded $432M in contract funds last year for the company to provide FY 2018 support for the new submarine class.

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