Hello, Guest!
  • Thursday, April 25, 2024

General Dynamics Books $2.4B Navy Contract Option for One Block V Virginia-Class Submarine

General Dynamics’ (NYSE: GD) Electric Boat subsidiary has received a potential $2.42 billion contract modification from the U.S. Navy to build one Block V Virginia-class submarine equipped with Virginia Payload Module.

Electric Boat will continue to work with Huntington Ingalls Industries‘ (NYSE: HII) Newport News Shipbuilding division on the construction of the submarine, the Department of Defense said Friday.

The modification exercises an option for one additional vessel under the multiyear Block V contract awarded to General Dynamics Electric Boat in December 2019.

Contract work will occur in Virginia, Rhode Island, California, Connecticut, Maryland, Arizona, Pennsylvania and other areas within and outside the U.S. through February 2030.

Naval Sea Systems Command will obligate approximately $2.7B in shipbuilding and conversion funds for fiscal years 2018, 2019, 2020 and 2021 at the time of award.

POC - 2021 Navy Forum
To register for this virtual forum, visit the Potomac Officers Club Events page.

Video of the Day

Related Articles

General Dynamics Q2 Profit Up 3.9%; Phebe Novakovic Cites ‘Strong Demand’ in Aerospace Segment Financial Reports

General Dynamics Q2 Profit Up 3.9%; Phebe Novakovic Cites ‘Strong Demand’ in Aerospace Segment

General Dynamics (NYSE: GD) logged a $766 million profit for the second quarter of its 2022 fiscal year and $9.2 billion in revenue, figures respectively 3.9 percent higher and relatively flat compared to the same period last year. The Reston, Virginia-based defense contractor said Wednesday earnings totaled $2.27 per share, up 5.4 percent from the

Jean Lewis Joins Alpha Omega Integration as Strategic Growth VP; Gautam Ijoor Quoted Executive Moves

Jean Lewis Joins Alpha Omega Integration as Strategic Growth VP; Gautam Ijoor Quoted

Jean Lewis, a more than 30-year government business development leader, has been named vice president of strategic growth at Alpha Omega Integration, a Vienna, Virginia-based provider of information technology and business consulting services to customers in public and commercial sectors. She will bring to Alpha Omega her decades of experience in digital business transformation, risk

BGOV: Fiscal 2020 Federal Contract Spending Hit $682B Contract Awards

BGOV: Fiscal 2020 Federal Contract Spending Hit $682B

A Bloomberg Government report says the federal government’s total contract spending reached $682 billion in fiscal year 2020, a 14 percent increase from FY 2019 spending of $599 billion. BGOV said Thursday FY 2020 marks the fifth consecutive year of increase in contract spending and federal agencies primarily used $1.6 trillion in enacted FY 2020