U.S. Navy Awards General Dynamics (GD) $38 Million for Work on USS Hawaii
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The U.S. Navy has awarded General Dynamics Electric Boat a $38 million contract modification to perform a range of work on USS Hawaii (SSN-776) during its post-shakedown availability (PSA). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The contract calls for Electric Boat to conduct maintenance, repairs, alterations, testing and other activities on the submarine. The work is scheduled for completion in March 2009 and will involve more than 500 current employees. The initial contract was awarded in December 2006. It now has a potential value of $62 million if all options are exercised. [jt]
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