GROTON,
Conn., Aug. 5, 2024 /PRNewswire/ -- General
Dynamics Electric Boat, a business unit of General Dynamics (NYSE:
GD), announced today it has been awarded a $1.3 billion undefinitized contract modification
allowing Electric Boat to purchase long lead time materials for
Virginia Class Block VI submarines
as detailed in the U.S. Department of Defense contract award.
"This contract modification sends a crucial demand signal,
enabling our suppliers to invest in the capacity and materials
needed to increase production volume," said Kevin Graney, president of General Dynamics
Electric Boat. "Consistent funding for the supply base is essential
to achieve the high-rate production the Navy requires of the entire
submarine enterprise."
Virginia-class submarines are designed from the keel up for the
full range of 21st-century mission requirements, including
anti-submarine and surface ship warfare and special operations
support. General Dynamics Electric Boat is the prime contractor and
lead design yard for the Virginia
class and constructs them in a teaming arrangement with HII's
Newport News Shipbuilding in Virginia.
General Dynamics Electric Boat designs, builds, repairs and
modernizes nuclear submarines for the U.S. Navy. Headquartered in
Groton, Connecticut, it employs
more than 23,000 people. More information about General Dynamics
Electric Boat is available at www.gdeb.com.
General Dynamics is a global aerospace and defense company that
offers a broad portfolio of products and services in business
aviation; ship construction and repair; land combat vehicles,
weapons systems and munitions; and technology products and
services. General Dynamics employs more than 100,000 people
worldwide and generated $42.3 billion
in revenue in 2023. More information is available at
www.gd.com.
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SOURCE General Dynamics Electric Boat