General Dynamics Electric Boat unit awarded $401 million contract for nuclear submarine workBy AP
Thursday, October 7, 2010
General Dynamics unit wins $401M Navy contract
NEW YORK — A unit of General Dynamics Corp. received a $400.6 million contract from the U.S. Naval Sea Systems Command to continue work on active nuclear submarines.
The contract calls for General Dynamics Electric Boat Corp. of Groton, Conn., to provide design, planning, engineering and technical support for active nuclear submarines and submersibles.
Work will be performed in Groton, and facilities in Kings Bay, Ga., Bangor, Wash., and in Quonset and Newport in Rhode Island.
The work is expected to be completed by October 2011.
Shares of General Dynamics, based in Falls Church, Va., fell 51 cents, to $63.13 in Thursday trading.
Tags: Contracts And Orders, New York, North America, United States