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General Dynamics Electric Boat Corp. reports it has landed $42 million from the U.S. Navy for submarine maintenance and modernization.
Under the contract, the Groton, Conn.-based General Dynamics (NYSE:GD) subsidiary will plan and perform routine maintenance and modernization work, including engineering, procurement, repairs, maintenance, modernization and testing, on the U.S.S. Springfield (SSN-761), a Los Angeles-class attack submarine.
Work will be performed at Electric Boat’s shipyard in Groton and is expected to be completed by February 2010.
In May, Electric Boat won $15.8 million from the Navy for repair work on the U.S.S. Hartford, another Los Angeles-class attack submarine. The Hartford was damaged in March when it collided with an amphibious ship, the U.S.S. New Orleans, in the Strait of Hormuz.
In April, Electric Boat landed $10.3 million from the Navy for non-nuclear maintenance and repair support at the Naval Submarine Base in New London, Conn. Under the modification to a previously won deal, Electric Boat will continue to provide non-nuclear maintenance and repair for operational nuclear submarines, floating dry-docks, support and service craft, and other equipment.
General Dynamics, based in Falls Church, Va., employs approximately 92,300 people worldwide. The defense contractor reported a 2008 net income of $2.46 billion on revenue of $29.3 billion.
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