General Dynamics awarded $139.2M Navy contract

General Dynamics (GD) was awarded a $139.2M fixed-price-incentive, firm-fixed-price, cost-plus-fixed-fee and cost-only contract for the production of MK 54 MOD 1 Lightweight Torpedo Kits and related test equipment, spares, provisioned item orders, engineering support and hardware support for the MK 54 Lightweight Torpedo Program. This contract includes options which, if exercised, would bring the cumulative value of this contract to $808.6M. This contract combines purchases for the Navy and the Foreign Military Sales program. Work is expected to be completed by December 2027. If all options are exercised, work will continue through December 2033. FY24 weapons procurement funds in the amount of $59.72M; FY23 weapons procurement funds in the amount of $26.47M; FY25 weapons procurement funds in the amount of $23.61M and FMS funds in the amount of $3.68M will be obligated at time of award, of which $26.47M will expire at the end of the current fiscal year. This contract was not competitively procured in accordance with 10 U.S. Code 3204. Naval Sea Systems Command is the contracting activity.