Wednesday, November 19, 2008

General Dynamics pulls in $286M Naval nuclear sub work deal

By Mass High Tech Staff

General Dynamics Corp.’s Electric Boat subsidiary reports it has landed $286 million from the U.S. Navy for work on nuclear submarines.

Under the contract, which could reach a total value of $1.8 billion, Electric Boat, based in New London, Conn., will provide design, engineering, material and logistics support, and research and development for submarine maintenance and modernization activities, training and cost reduction support. Work under the deal is expected to be completed by October 2009.

In October, Electric Boat won a similar, $268 million deal from the Navy, also for work on nuclear submarines. That deal is a follow-on to an October 2005 contract with a potential total value of $443.4 million. Under the deal, Electric Boat will maintain and update design drawings and data for all Virginia-class submarines, including technology insertions. In addition, Electric Boat will perform Virginia-class development and design studies.

Yesterday, General Dynamics Armament and Technical Products unit landed a $9 million contract from Lockheed Martin Corp. for aircraft gun systems.
 
Under two contracts, the division will produce GAU-22/A gun systems for the F-35 Lightning II stealth fighter aircraft at its Saco, Maine, facility. General Dynamics’ Burlington, Vt.-based Technology Center will manage the program. Production is set to begin immediately and extend through August 2010.

General Dynamics, headquartered in Falls Church, Va., employs approximately 91,200 people worldwide. The defense contractor reported a 2007 net income of $2.1 billion on revenue of $27.2 billion.