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U.S. Navy Awards General Dynamics $268 Million for Virginia-class submarine engineering work


The U.S. Navy has awarded General Dynamics Electric Boat a $268 million contract modification to provide lead construction yard services for Virginia-class nuclear-powered attack submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the modification, Electric Boat will maintain and update design drawings and data for all Virginia-class submarines, including technology insertions, throughout their construction and post-shakedown availability periods. In addition, Electric Boat will perform Virginia-class development and design studies.

Initially awarded in October 2005, the contract has a total potential value of $443.4 million for work to be completed through September 2009.

Electric Boat and its construction partner, Northrop Grumman Shipbuilding, have delivered five ships of the class to the Navy USS Virginia (SSN-774), USS Texas, USS Hawaii (SSN-776), USS North Carolina (SSN-777) and New Hampshire (SSN-778). Five additional submarines are under contract.


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