General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), reports that it has been awarded a $642 million contract modification to a previously awarded contract supporting submarine production. This
Photo: General Dynamics Electric Boat.
General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), reports that it has been awarded a $642 million contract modification to a previously awarded contract supporting submarine production. This modification is for a cost-plus-fixed-fee modification to a previously awarded contract (N00024-20-C-2120) for lead yard support and development studies and design efforts related to Virginia-class submarines, as detailed in the U.S. Department of War contract award notice, which notes that work will be performed in Groton, Conn,. (94%); McLeansville, N.C., (3%); Newport News, Va., (2%); and Newport, and Quonset, R.I., (1%), and is expected to be completed by April 2026.
“This contract modification supports our efforts to deliver the submarines our Navy needs as quickly as possible,” said Mark Rayha, president of General Dynamics Electric Boat. “This funding allows us to continue our design and development efforts in order to sustain and extend our nation’s operational overmatch against
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