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Saturday, February 12, 2011

General Dynamics Awarded $60 Million to Produce More Affordable Virginia-Class Submarines

USS VirginiaGeneral 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.

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.

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