Le Lézard
Classified in: Transportation, Business
Subject: CON

Electric Boat awarded $2 Billion for Virginia-Class Submarine Material

GROTON, Conn., March 19, 2019 /PRNewswire/ -- The U.S. Navy has awarded General Dynamics Electric Boat a $2 billion contract modification for long lead time material to support construction of Block V Virginia-class submarines.

The award modifies a contract awarded in 2017 that provides funding for long lead time material for steam and electrical plant components, main propulsion unit and ship service turbine generator efforts and miscellaneous hull, mechanical and electrical system components.  This modification brings the overall contract value to approximately $3.2 billion.

"This award allows Electric Boat and the submarine industrial base to continue to make preparations for construction of Block V, which will bring additional payload capacity to the Navy.  Our team will continue to produce the world's most technologically advanced submarines, safely and efficiently," said Electric Boat President Jeffrey S. Geiger.

Block V submarines will include the Virginia Payload Module (VPM), an added section of the ship containing four large-diameter payload tubes. Extending the hull by 84 feet, the VPM will boost the submarine's strike capabilities.

Electric Boat employs about 17,000 people in Groton and New London, Connecticut; and Quonset Point, Rhode Island. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).  More information about General Dynamics is available at www.generaldynamics.com.

General Dynamics (PRNewsFoto/General Dynamics) (PRNewsFoto/General Dynamics)

SOURCE General Dynamics Electric Boat

These press releases may also interest you

at 00:35
EP Energy Corporation ("EP Energy" or the "Company") today announced that it has entered into a Backstop Commitment Agreement (the "Backstop Agreement") and Plan Support Agreement (the "PSA") with a number of its key creditors on the terms of a...

18 oct 2019
Namaste Technologies Inc. ("Namaste" or the "Company") , a leading online platform for cannabis products, accessories, and responsible education, today announced that it has entered into a secured convertible loan agreement (the "Loan Agreement")...

18 oct 2019
CME Group regularly monitors its markets for suspicious activity. As it relates to the Vanity Fair article published on October 17, 2019, regarding activities in the E-mini S&P 500 futures contract, the allegations about the trading activity are...

18 oct 2019
Orca Exploration Group Inc. ("Orca" or the "Company") announces that it has completed its normal course issuer bid (the "Bid") for its Class B Subordinate Voting Shares ("Class "B" Shares"). Under the Bid, Orca repurchased 933,028 Class "B" Shares...

18 oct 2019
Cresval Capital Corp. ("Cresval" or "the Company") (CRV: TSX-V) announces that it intends to raise up to $350,000 by way of a non-brokered private placement of up to 7,000,000 units of the Company at a price of $0.05/unit.  Each unit shall comprise...

18 oct 2019
Scottie Resources Corp. ("Scottie" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced private placement (see news releases dated September 11, September 17, and September 25, 2019)...

News published on 19 march 2019 at 17:15 and distributed by: