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Press release from PR Newswire

General Dynamics Awarded $41 Million for Submarine Maintenance and Modernization

Monday, December 17, 2012

General Dynamics Awarded $41 Million for Submarine Maintenance and Modernization10:00 EST Monday, December 17, 2012GROTON, Conn., Dec. 17, 2012 /PRNewswire/ -- General Dynamics Electric Boat has been awarded a U.S. Navy contract worth $41 million to perform non-nuclear submarine modernization and maintenance work. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).Under the contract, Electric Boat will continue operating the New England Maintenance Manpower Initiative at the Naval Submarine Base here, providing a wide range of non-nuclear overhaul, repair and modernization services in support of submarines, floating dry docks, support and service craft and other equipment at the base. About 250 Electric Boat employees will be engaged in the work.The contract includes four annual options. If these options were exercised, the cumulative value of the contract would be $222.3 million.More information about General Dynamics is available on the Internet at www.generaldynamics.com.www.gdeb.com  SOURCE General Dynamics Electric BoatFor further information: Media: Robert Hamilton, +1-860-433-8556, Rhamilt1@gdeb.com, Investors: Amy Gilliland, +1-703-876-3748, agilliland@gd.com