General Dynamics Awarded $122 Million for Virginia-Class Submarine Procurement

General Dynamics Awarded $122 Million for Virginia-Class Submarine Procurement

PR Newswire

GROTON, Conn., Dec. 23, 2013

GROTON, Conn., Dec. 23, 2013 /PRNewswire/ -- The U.S. Navy has awarded General
Dynamics Electric Boat a $121.8 million contract modification to buy long
lead-time material for three Virginia-class submarines, SSN-793, SSN-794 and
SSN-795. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE:
GD).

The contract provides funding for steam and electrical-plant components, main
propulsion unit and ship-service turbine generator sets, as well as
miscellaneous hull, mechanical and electrical-systems components to support
construction of the submarines.

With the modification, the contract has a value of $716.5 million. It was
awarded initially in April 2012.

Recognized as a model defense-acquisition program for its technical excellence
and schedule performance, the Virginia-class submarine program provides the
Navy with the capabilities required to dominate both the open ocean and the
littorals. In partnership with the Navy, Electric Boat is successfully
pursuing its goal to reduce ship costs without decreasing capabilities through
overall efficiency improvements, decreased ship-construction labors costs and
shortened ship-construction cycle times.

More information about General Dynamics is available at
www.generaldynamics.com.

SOURCE General Dynamics Electric Boat

Website: http://www.gdeb.com
Contact: Media: Robert Hamilton, General Dynamics Electric Boat, (860)
433-8556, or Investors: Erin Linnihan, General Dynamics, (703) 876- 3583