GROTON, Conn., Oct. 27 /PRNewswire-FirstCall/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $58.7 million contract modification for nuclear-submarine modernization and maintenance work. Electric Boat is a wholly owned subsidiary of General Dynamics .
Under the terms of the contract modification, Electric Boat will provide drawings and related data; planning; scheduling; and technical support required to complete engineered overhauls and extended refit periods for operational submarines. Initially awarded in March 2004, the contract could be worth more than $1.1 billion over five years if all options are exercised and funded.
Fifty-nine percent of the work will be performed at Groton; 19 percent at Bangor, Wash.; 16 percent at Kings Bay, Ga.; five percent at Newport, R.I., and one percent at Quonset Point, R.I. Work performed under this modification is expected to be completed by September 2007.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 81,100 people worldwide and expects 2006 revenues of approximately $24 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation. More information about the company is available online at http://www.generaldynamics.com/.
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