Tuesday, January 27, 2009

General Dynamics Awarded $10 Million For Submarine Base Support

General Dynamics Awarded $10 Million For Submarine Base Support
January 27, 2009

GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $10.25 million contract modification to continue operating 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).

Initially awarded in October 2006, the five-year contract has a potential value of $201.8 million if all options are exercised and funded.

Under the terms of the contract, Electric Boat will provide a wide-range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks, support and service craft, and other platforms and equipment at the submarine base. About 270 Electric Boat employees are engaged in the work.

General Dynamics, headquartered in Falls Church, Va., employs approximately 91,200 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.gd.com.

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