General Dynamics Electric Boat, a business unit of General Dynamics, said it has been awarded a $1 billion contract modification allowing Electric Boat to purchase long lead time materials for Virginia Class Block VI submarines.
"This contract modification drives continuation of the crucial demand signal that the submarine industrial base needs to invest in the capacity and materials required to increase production volume," said Mark Rayha, 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 for 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 24,000 people.
