General Dynamics Awarded Second U.S. Navy Sub
The U.S. Navy has released $1.2b for the construction of the 14th Virginia-class submarine, SSN-787, to General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics (NYSE: GD). This award marks the beginning of production of two submarines per year on the Virginia-class program. The release of the funding allows procurement of long lead-time components that will support the planned official construction start later this year on the as-yet-unnamed submarine at Electric Boat and its teammate, Huntington Ingalls Industries in Newport News, Va. "Today represents the culmination of an extraordinary effort by the Virginia-class team," said John D. Holmander, Electric Boat’s vice president for the Virginia Program.
General Dynamics Awarded $1.2B for Second Navy Sub
The U.S. Navy has released $1.2b for the construction of the 14th Virginia-class submarine, SSN-787, to General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics (NYSE: GD). This award marks the beginning of production of two submarines per year on the Virginia-class program. The release of the funding allows procurement of long lead-time components that will support the planned official construction start later this year on the as-yet-unnamed submarine at Electric Boat and its teammate, Huntington Ingalls Industries in Newport News, Va. "Today represents the culmination of an extraordinary effort by the Virginia-class team," said John D. Holmander, Electric Boat’s vice president for the Virginia Program.
