General Dynamics $6M Navy Contract

The U.S Navy has awarded General Dynamics Electric Boat a $6.4m contract modification to design special tooling for the Common Missile Compartment under development for the United Kingdom’s Successor ballistic-missile submarine and the U.S. Ohio replacement submarine. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The award modifies a $76m contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines being developed for the Royal Navy and the U.S. Navy.

If all options are exercised and funded the overall contract would have a value of more than $638m.