General Dynamics Awarded $36 Million for Development of Advanced Submarine Technologies — Press Release

by: Matthew Potter
November 3, 2010

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General Dynamics Awarded $36 Million for Development of Advanced Submarine Technologies

GROTON, Conn., Nov. 2, 2010 /PRNewswire-FirstCall/ — General Dynamics Electric Boat has been awarded a $35.9 million U.S. Navy contract to develop advanced submarine technologies for current and future undersea platforms. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract, Electric Boat will perform Concept Formulation (CONFORM) studies in support of a wide range of technology areas including manufacturability, maintainability, survivability, hydrodynamics, acoustics and materials. Electric Boat also will conduct research and development work in additional areas including manning, hull integrity, performance, ship control, logistics, weapons handling and safety. Additionally, the contract supports near-term Virginia-class technology insertion, identification of Ohio-class replacement technology options, future submarine concepts and core technologies.

If all options are exercised and funded, the contract has a total potential value of $711.4 million over five years.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 90,000 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 the company is available on the Internet at www.generaldynamics.com.

SOURCE General Dynamics Electric Boat

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