General Dynamics Electric Boat gets $1.85B Virginia class contract mod
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General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD) reports that it was a\u00ad\u00ad\u00adwarded a $1.85 billion contract modification to a previously awarded contract supporting submarine production. This modification is for long lead time material and preliminary construction efforts associated with Virginia-class Block VI submarines as detailed in the June 26 U.S. Department of Defense contract award announcement.<\/a><\/p>\n \u201cThis contract modification allows for the acquisition of critical material and components for Virginia-class submarines that require substantial lead time to manufacture and deliver. It sends a continued demand signal, supporting supplier investment in the capacity and materials needed to achieve our required production volume,\u201d said Mark Rayha<\/a>, president of General Dynamics Electric Boat. \u201cConsistent funding and support such as this contract modification is essential for the shipyards to achieve the high-rate production of submarines the Navy needs.\u201d<\/p>\n According to the DOD announcement Work will be performed in Sunnyvale, California (37%); Tucson, Arizona (6%); Chesapeake, Virginia (6%); Dallas, Texas (4%); York, Pennsylvania (3%); Ashland, Virginia (3%); South El Monte, California (3%); Westminster, Massachusetts (3%); Manchester, New Hampshire (3%); Huntington, West Virginia (3%); Minneapolis, Minnesota (2%); McKeesport, Pennsylvania (2%); Spring Grove, Illinois (2%); Louisville, Kentucky (1%); Warren, Massachusetts (1%); Camden, New Jersey (1%); El Cajon, California (1%); Yaphank, New York (1%); and other locations less than 1% (18%), and is expected to be completed by September 2035.\u00a0<\/p>\n GD Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. Headquartered in Groton, Connecticut, it employs more than 24,000 people.<\/p>\n The post General Dynamics Electric Boat gets $1.85B Virginia class contract mod<\/a> appeared first on Marine Log<\/a>.<\/p>\n<\/div>\n