GD Wins $60M in Sub Funding

(Press Release)
Friday, February 11, 2011

General Dynamics Electric Boat has been awarded a $60 million U.S. Navy contract modification that funds continued design efforts to make Virginia-class submarines more affordable. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). Initially awarded in 2008, the overall contract – known as Block III – calls for the procurement of eight submarines through FY 13, and has a potential value of $14 billion. The last Block III ship is scheduled for delivery in 2019. Under the terms of the modification, Electric Boat will continue to develop and implement cost-reduction design changes, an effort called Design For Affordability (DFA). This work will enable the Virginia-class program to reduce acquisition costs by 20 percent in time for the FY 12 submarines. The most significant design change implemented in Block III is the modification of the submarine’s bow, replacing the sonar sphere with a large aperture bow array and the 12 vertical-launch missile tubes with two Virginia Payload Tubes, each carrying six missiles. This redesign will save more than $40 million per ship, beginning with the submarine North Dakota (SSN-784). The DFA effort is supported by Electric Boat’s engineering and design organization, which comprises more than 3,000 employees. Possessing proven technical capabilities, these employees are engaged in all facets of the submarine life cycle from concept formulation and design through construction, maintenance and modernization, and eventually to inactivation and disposal.

www.generaldynamics.com

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Navy

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

NATO to bolster defence of E.European Allies

NATO is sending part of its naval rapid reaction force to the Baltic Sea as part of a drive to step up the defence of eastern European allies in response to the crisis inĀ Ukraine,

UN Seeks Sanctions Waiver to Ship Arms to Mali

The United Nations is seeking an exemption from a U.N. Security Council arms embargo on Ivory Coast so it can ship weapons and military equipment across the East

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1240 sec (8 req/sec)