Press Release

General Dynamics Awarded $286 Million for Nuclear Submarine Support Work

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Posted 18 November 2008 @ 09:45 am ET

GROTON, Conn., Nov. 18 /PRNewswire-FirstCall/ -- The U.S. Navy has awardedGeneral Dynamics Electric Boat a $286 million contract for planning yard work,engineering and technical support for nuclear submarines. Electric Boat is awholly owned subsidiary of General Dynamics (NYSE: GD). The contract has atotal potential value of $1.8 billion over five years if all options areexercised and funded. Work performed under the initial award is expected to becompleted by October 2009.

Under the terms of the contract, Electric Boat will provide design,engineering, material and logistics support, and research and developmentactivities for active U.S. Navy nuclear submarines and submersibles. ElectricBoat will also provide information services, planning, scheduling andtechnical support for submarine maintenance and modernization activities,training and facility support, and affordability/cost reduction support.

General Dynamics, headquartered in Falls Church, Va., employsapproximately 91,200 people worldwide. The company is a market leader inbusiness aviation; land and expeditionary combat systems, armaments andmunitions; shipbuilding and marine systems; and information systems andtechnologies. More information about General Dynamics is available online athttp://www.gd.com.

SOURCE General Dynamics Electric Boat


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