GROTON, Conn., Sept. 21, 2017 /PRNewswire/ -- The U.S. Navy has
awarded General Dynamics Electric Boat a $5.1 billion Integrated Product and Process
Development (IPPD) contract to complete the design of the lead
Columbia-class submarine, the nation's next-generation sea-based
strategic deterrent. Electric Boat is a wholly owned subsidiary of
General Dynamics (NYSE: GD).
"Working closely with the Navy and the submarine industrial
base, Electric Boat will continue to lead critical aspects of the
Columbia-class development effort, including design, material
procurement, construction and operating-cost reduction, to achieve
an affordable and effective program," said Electric Boat President
Jeffrey S. Geiger.
The IPPD contract includes funding for component and technology
development as well as continued development of the Common Missile
Compartment, which will be integrated into both the Navy's new SSBN
and the Royal Navy's Dreadnought-class strategic missile
submarine.
Construction of the lead Columbia-class submarine is scheduled
to begin in the fall of 2020. The Navy plans to build a fleet of 12
new SSBNs.
The contract announced today follows a five-year, $1.85 billion award Electric Boat received in
December 2012 to perform research and
development work for the Navy's new class of ballistic-missile
submarines.
General Dynamics Electric Boat has established standards of
excellence in the design, construction and lifecycle support of
U.S. Navy submarines. In its position as an industry leader,
Electric Boat remains committed to applying its technical strengths
and business expertise to effectively manage the challenges of
nuclear-submarine production. The company's three primary locations
are in Groton and New London, Conn.; and Quonset Point, R.I. Its
current workforce is approximately 15,800 employees.
For more information about Electric Boat, please visit
www.gdeb.com.
For more information about General Dynamics, please visit
www.generaldynamics.com.
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SOURCE General Dynamics Electric Boat