General Dynamics Subsidiary Receives $482M Modification to Navy Virginia-Class Submarine Contract

A General Dynamics (NYSE: GD) subsidiary will continue to provide lead yard services to the U.S. Navy’s Virginia-class submarine construction program under a one-year, $482.1 million contract modification.

Naval Sea Systems Command issued the cost-plus-fixed-fee modification to General Dynamics Electric Boat as part of a previously awarded contract that also involves design and development studies of the next-generation attack submarine, the Department of Defense said Friday.

Electric Boat initially secured $434.4 million two years ago to help the service branch maintain and update drawings and data associated with the Virginia class.

The latest award will extend the performance period through October 2022.

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