US Navy adds $39.5 million to submarine contract

The US Navy has awarded General Dynamics Electric Boat a $39.5 million contract modification for submarine research and development.

The US Navy has awarded General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, a $39.5 million contract modification for submarine research and development.

The award modifies a contract originally announced in March 2000 which, if all options are exercised and funded, has a total potential value of $138 million over six years.

Under the terms of the modification, Electric Boat will perform the research and development work on Seawolf and Virginia-class submarines.

The work is scheduled to be completed in September 2005.

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