General Dynamics Electric Boat (GD) has been awarded a $1.3 billion cost-plus-fixed-fee modification to a Navy contract for lead yard support, development studies and design efforts related to Virginia-class submarines, the US Department of War said Thursday.
The contract modification includes options which, if exercised, would bring the cumulative value of the contract to nearly $2.5 billion, according to the statement.
The contract is expected to be completed by April 2027, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments