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Saturday, July 10, 2010

General Dynamics Wins Navy Nuclear Submarine Contract

USS VirginiaElectric Boat, a wholly owned subsidiary of General Dynamics Corp., reports it has a new contract worth $171.8 million from the U.S. Navy to provide “lead-yard services” for manufacturing the Virginia Class nuclear submarine.

The Virginia Class is planned as a series of 30 stealth multi-mission nuclear-powered submarines for deep ocean anti-submarine warfare and littoral (shallow water) operations.

According to General Dynamics, the contract has a potential cumulative value of $881 million if all options are fully funded and exercised.

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