General Dynamics Awarded $19 Million by U.S. Navy for Virginia Payload Module Development
July 19, 2016
GROTON, Conn. – General Dynamics Electric Boat has been awarded an $18.9 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
The funds will be used to procure two VPM pre-production setups to support the manufacturing start of the VPM payload tubes. The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines.
This modification brings the cumulative value of the overall Virginia-class Lead Yard Services contract, initially awarded in 2010, to $1.46 billion.
More information about Electric Boat is available at www.gdeb.com.