GD Awarded $12 M for Virginia-Class Repair Parts

General Dynamics Electric Boat has received an $11.5 million contract modification from the U.S. Navy to provide on-board repair parts for Virginia-class submarines. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

The modification was exercised under the $14 billion contract awarded to Electric Boat in December 2008 for the construction of eight Virginia-class submarines, and has a potential value of $85 million.