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Friday, October 19, 2012

Sub cost must continue to fall, admiral says

USS Virginia |The Navy admiral overseeing submarine construction said Thursday that if the price tag for building the newest vessels remains where it is today, there will have to be cutbacks to the Virginia-class program.

Newport News Shipbuilding and General Dynamics Electric Boat, along with the Navy, have already brought down the cost to build Virginia-class fast-attack subs and are in the process of doubling their production, from one sub a year to two.

But when another program to replace the nation's aging fleet of Ohio-class ballistic missile subs ramps up, there won't be as much money to go around.

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