October 7, 2009 (FinancialWire) — The U.S. Navy has awarded General Dynamics’ (NYSE: GD) Electric Boat unit a $320.6 million contract modification for planning yard work, engineering and technical support for nuclear submarines.

Under the terms of the modification, Electric Boat will provide design, engineering, material and logistics support, and research and development activities for active U.S. submarines and submersibles.

The company will also provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support, and affordability/cost reduction support.

Initially awarded in November 2008, the contract being modified has a potential value of $1.8 billion over five years if all options are exercised and funded.

Falls Church, Virginia-based General Dynamics offers business aviation systems, land and expeditionary combat systems, armaments and munitions, shipbuilding and marine systems and information systems and technologies.

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