U.S. Navy Awards $2.8M Contract To GD

The U.S. Navy has awarded Electric Boat a $2.8 million contract to perform planning work for maintenance on the USS Toledo (SSN-769). Electric Boat is a wholly owned subsidiary of General Dynamics. Under the terms of the contract, Electric Boat will immediately begin advanced planning for a 60-day maintenance period known as a Selected Restricted Availability (SRA). The SRA is scheduled to start at the Naval Submarine Base in Groton in April 2003. The maintenance component of the overall task, which has not yet been awarded, is expected to be worth $9.4 million. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 54,000 people worldwide and anticipates 2002 revenues of approximately $14 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation.