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General Dynamics Electric Boat Corp. reports it has landed $320.1 million from the U.S. Navy for work on nuclear submarines.
Under the deal, a modification to a previously won contract, Electic Boat, the General Dynamics Corp. (NYSE:GD) subsidiary, will provide design, engineering, material and logistics support, and research and development services for active U.S. submarines and other submersibles. The company said it will also provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support and affordability/cost reduction support.
The initial deal was a $1.8 billion, five-year contract awarded in November 2008.
In August, Electric Boat landed $42 million from the U.S. Navy for submarine maintenance and modernization.
General Dynamics, headquartered in Falls Church, Va., employs about 92,000 people.
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