Navy Awards GD $48.2M

Thursday, September 26, 2002
The U.S. Navy has awarded General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, a $48.2 million modification to an existing contract for research and development work on the Virginia-Class submarine program. The contract was initially awarded in September 2000, and could be worth $480 million over five years if all options are exercised and funded. Under the terms of this modification, Electric Boat will perform development studies for Virginia-Class design improvements, and will continue to evaluate new technologies for insertion into succeeding Virginia-Class submarines. The Virginia Class will provide the U.S. Navy with the capabilities it requires to maintain its undersea superiority well in the 21st century. Electric Boat and its construction teammate, Northrop Grumman Newport News, are currently building the first four ships of the class under a $4.2 billion contract. Electric Boat will deliver the lead ship, Virginia (SSN-774), in 2004. A total of 30 submarines are planned for the class.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Keystone XL Costs to Nearly Double - TransCanada

The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Legal

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1275 sec (8 req/sec)