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Saturday, April 30, 2011

General Dynamics Awarded $1.2 Billion for Second FY11 Virginia-class Submarine by U.S. Navy

Virginia-class submarineThe U.S. Navy has released $1.2 billion for the construction of the 14th Virginia-class submarine, SSN-787, to General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics. 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.

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