General Dynamics Receives $6 Million Contract Modification For Nuclear Submarine Maintenance

GROTON, Conn. – The U. S. Navy has awarded General Dynamics Electric Boat a $6 million contract modification for management and nuclear maintenance work on submarines stationed at Submarine Base New London, Conn. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract modification, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base through Sept. 30, 2008. The company will provide project management, planning, training, and radiological-control services to support maintenance, modernization and repairs in support of operational submarines. About 25 Electric Boat employees are assigned to the NRMD.

The initial contract was awarded in December 2005 and has a potential value of $75.4 million over three years if all options are exercised.