General Dynamics Wins $25 Million Navy Sub Maintenance Contract

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October 30, 2009 (FinancialWire) -- The U.S. Navy has awarded General Dynamics' (NYSE: GD) Electric Boat division a $25 million contract for management and support of nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton, Connecticut.

The contract has a potential value of $78 million over three years if all options are exercised.

Under the contract, Electric Boat will continue to operate the Nuclear Regional Maintenance Department at the submarine base. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs.

A core group of about 25 Electric Boat employees is assigned to the NRMD, with surge groups of up to 100 shipyard employees assigned for short periods.

Falls Church, Virginia-based General Dynamics employs around 92,300 people worldwide. The company offers business aviation systems, land and expeditionary combat systems, armaments and munitions, shipbuilding and marine systems and information systems and technologies.

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