General Dynamics gets pact modification
Defense contractor General Dynamics Corp. said Monday that its Electric Boat Corp. subsidiary received a $20.1 million contract modification from the Navy for nuclear-submarine and shore-support facility work.
The pact may be worth more than $1.1 billion over five years if all options are exercised and funded.
Electric Boat will provide management, design and installation services for shore-support facilities consolidations and operational nuclear-submarine retrofits.
The work is expected to be completed by November 2009.
Shares of General Dynamics fell 75 cents to $72.90 in afternoon trading on the New York Stock Exchange.