U.S. Navy awards General Dynamics $434M for Virginia-class sub development and design work

GROTON, Conn. (October 11, 2019) - The U.S. Navy has awarded General Dynamics Electric Boat a $434.4 million contract to provide lead-yard support, development studies and design efforts for Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the cost-plus-fixed-fee contract, Electric Boat will undertake development studies and other work related to Virginia-class submarine design improvements. Additionally, Electric Boat will perform research and development work required to evaluate new technologies to be inserted in newly built Virginia-class ships, including the Virginia Payload Module.

Ninety-four percent of the work will be done at Groton; 5 percent at Newport News, VA.; and 1 percent at Quonset Point and Newport, R.I. Completion of this work is scheduled for Sept. 30, 2020.

This work will engage Electric Boat’s engineering and design organization, which comprises more than 5,000 employees. Possessing proven technical capabilities, these employees work on all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

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

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