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Press release from PR Newswire

General Dynamics Awarded $118 Million for Development of Advanced Submarine Technologies

Thursday, May 31, 2012

General Dynamics Awarded $118 Million for Development of Advanced Submarine Technologies10:00 EDT Thursday, May 31, 2012GROTON, Conn., May 31, 2012 /PRNewswire/ -- General Dynamics Electric Boat has been awarded a $117.8 million contract modification from the U.S. Navy to develop advanced submarine technologies for current and future undersea platforms.  Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).Under the terms of the modification, Electric Boat will perform advanced submarine research and development studies in support of a wide range of technology areas including manufacturability, maintainability, survivability, hydrodynamics, acoustics and materials.  Electric Boat also will conduct research and development work in additional areas including manning, hull integrity, performance, ship control, logistics, weapons handling and safety.  Additionally, the contract supports near-term Virginia-class technology insertion, identification of Ohio-class replacement technology options, future submarine concepts and core technologies.Initially awarded in November 2010, the contract has a potential value of $710.6 million over five years if all options are exercised and funded.More information about General Dynamics is available on the Internet at www.generaldynamics.com.SOURCE General Dynamics Electric BoatFor further information: Media: Robert Hamilton, General Dynamics Electric Boat, +1-860-433-8556, or Investors: Amy Gilliland, General Dynamics, +1-703-876-3748