General Dynamics Electric Boat Awarded $698 million Contract Modification for Overhaul of USS Hartford
General Dynamics Electric Boat has received a $697.9 million contract modification from the U.S. Navy for the repair, maintenance, and modernization of the submarine USS Hartford (SSN 768).
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
General Dynamics Electric Boat has received a $697.9 million contract modification from the U.S. Navy for the repair, maintenance, and modernization of the submarine USS Hartford (SSN 768). This project, which will take place at the Groton, Connecticut shipyard, is set to be completed by October 2026. The USS Hartford, a Los Angeles-class submarine commissioned in 1994, will benefit from an engineered overhaul enhancing its warfighting capabilities and extending its service life. General Dynamics Electric Boat is part of the broader General Dynamics company.
Positive
- Awarded $697.9 million contract modification enhances military capabilities.
- Project will extend the service life of USS Hartford, returning a vital asset to the fleet.
Negative
- None.
Details
News Market Reaction – GD
The recorded move for GD in the trading session of this news was +1.28%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GROTON, Conn., July 29, 2022 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General dynamics (NYSE: GD), announced today it was awarded a modification of the previously awarded U.S. Navy contract for the repair, maintenance and modernization of the submarine USS Hartford (SSN 768).
The contract modification has a value of
USS Hartford is a Los Angeles-class submarine built by General Dynamics Electric Boat and commissioned in 1994.
"This engineered overhaul of the USS Hartford will enhance its warfighting capability and extend the ship's service life, returning a valuable asset to the U.S. Navy submarine fleet," said Kevin Graney, president of General Dynamics Electric Boat.
General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. Headquartered in Groton, Connecticut, the company employs approximately 18,000 people. More information about General Dynamics Electric Boat is available at gdeb.com.
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated
View original content to download multimedia:https://www.prnewswire.com/news-releases/general-dynamics-electric-boat-awarded-698-million-contract-modification-for-overhaul-of-uss-hartford-301596194.html
SOURCE General Dynamics Electric Boat
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.