General Dynamics Receives $90 Million U.S. Navy Award for Ohio Replacement Submarine Development

From General Dynamics:

January 7, 2016

GROTON, Conn. – The U.S Navy has awarded General Dynamics Electric Boat an $89.8 million contract modification to continue development of the Common Missile Compartment for the U.S. Navy’s Ohio Replacement submarine and the Royal Navy’s Successor-class ballistic-missile submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the modification, Electric Boat will purchase missile-tube long-lead-time material to support the manufacture of the Common Missile Compartment.

Initially awarded in December 2012, the five-year, $1.85 billion contract calls for Electric Boat to perform research and development work for the Navy’s next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.5 billion.

More information about Electric Boat is available at www.gdeb.com. More information about General Dynamics is available at www.generaldynamics.com.