Hello, Guest!
  • Friday, November 22, 2024

General Dynamics Awarded $497M to Help Expand Navy Submarine Industrial Base


General Dynamics™ (NYSE: GD) Electric Boat subsidiary has received a potential $497M contract modification to support industrial base development and expansion initiatives for the U.S. Navy™s fleet of Columbia, Ford and Virginia class submarines.

The service branch aims to procure materials and production backup units for the vessels in support of its force structure assessment, the Department of Defense said Monday.

The Navy is obligating $177.15M in national sea-based deterrence funds at the time of award, as authorized under the fiscal 2019 National Defense Authorization Act and appropriated by the DoD Appropriations Act, 2019.

Electric Boat will perform work through December 2031 in Connecticut, Rhode Island, Virginia and other undisclosed locations.

Video of the Day

Related Articles

General Dynamics Reports Solid Operating Results, Growing Revenue and Backlog in Q1 2024; Phebe Novakovic Quoted Financial Reports

General Dynamics Reports Solid Operating Results, Growing Revenue and Backlog in Q1 2024; Phebe Novakovic Quoted

General Dynamics (NYSE: GD) has presented its first quarter 2024 results and reported that revenue and net earnings grew 8.6 percent and 9.5 percent year-over-year to $10.7 billion and $799 million. The company said Wednesday its operating earnings reached $1 billion, or 10.4 percent higher from a year ago, while company-wide backlog went up 4.4

GovCon Index Averted a Weekly Loss Amid Wall Street’s Worst Week Financial Reports

GovCon Index Averted a Weekly Loss Amid Wall Street’s Worst Week

Executive Mosaic’s GovCon Index advanced 1.08% before the weekend and averted a third consecutive losing week. The index, which tracks the stock performances of 30 major government contractors, ended at $4,786.97 for a 0.13% week-on-week gain. Wall Street concluded the week with a tech sell-off, and only the Dow Jones Industrial Average (+0.01%) yielded a gain.

General Dynamics Land Systems Secures $297M Army M10 Booker System Technical Support Contract Contract Awards

General Dynamics Land Systems Secures $297M Army M10 Booker System Technical Support Contract

A General Dynamics (NYSE: GD) subsidiary has received a potential five-year, $296.8 million contract from the U.S. Army to provide system technical support for the military branch’s M10 Booker combat vehicle. Army Contracting Command will obligate funds and determine work locations upon award of each task order and expects contract work to run through April