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General Dynamics - $35 Million Naval Support Contract

General Dynamics : 03 October, 2006  (New Product)
U.S. Navy Awards General Dynamics $35 Million Contract to Support Naval Submarine Base Work
GROTON, Conn. - The U.S. Navy has awarded General Dynamics Electric Boat a one-year $34.8 million contract with four one-year options to staff and operate the New England Maintenance Manpower Initiative (NEMMI) at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The overall contract, with all options exercised and funded, has a potential value of $202 million and a completion date of Sept. 30, 2011. About 270 Electric Boat employees will be engaged in the work.

Today's award is a follow-on to a five-year, $130.5 million contract that ran from October 2001 through September 2006.

Under the terms of the contract, Electric Boat will provide a wide spectrum of intermediate and depot-level overhaul, repair and modernization services in support of operational nuclear-powered submarines, floating dry-docks, support and service craft and other platforms and equipment at the submarine base.
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