2019 - Press Release Archives

General Dynamics Awarded $174 Million Contract for Submarine Work

GROTON, Conn. (July 11, 2019) - The U.S. Navy today awarded General Dynamics Electric Boat a $174 million contract for nuclear-submarine work. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Under the terms of the contract, Electric Boat will provide design agent, planning yard, and engineering services, as well as technical support for active nuclear submarines and submersible systems. The contract could be worth more than $1 billion over five years if all options are exercised and funded.

Seventy percent of the work will be performed at Groton; 13 percent at Kings Bay, Ga.; 10 percent at Bangor, Wash.; 3 percent at Pearl Harbor, Hawaii; and 2 percent at Newport and Quonset Point, R.I. Work performed under this contract is expected to be completed by September 2023.

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 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 17,000 employees.

More information about Electric Boat is available at www.gdeb.com.

For more information about General Dynamics, please visit www.generaldynamics.com.

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Statement of Electric Boat President Jeff Geiger on US Navy Award of Columbia-class Ballistic Missile Submarine Contract

GROTON, Conn. (May 20, 2019) - General Dynamics Electric Boat president Jeff Geiger issued the following statement about a US Navy contract award announced today.

“The contract announced by the Navy today will support submarine industrial base development and expansion in support of Columbia Class Ballistic Missile Submarines and the nuclear shipbuilding enterprise. It will allow Electric Boat to continue to prepare our suppliers for the increased demand for material and services to support the Columbia and Virginia classes. The submarine industrial base, comprised of more than 5,000 businesses across the United States, will need to expand its output by 250% in the period of peak production to meet the increased demand of the Navy. Our established standards of excellence in the design, construction and life cycle support of U.S. Navy submarines have made Electric Boat the industry leader. We remain committed to applying our technical strengths and business expertise to effectively manage the challenges of nuclear-submarine production.”

Background information

The Navy announced today that General Dynamics Electric Boat has been awarded a contract modification for $497 million to support submarine industrial base development and expansion in support of Columbia Class Ballistic Missile Submarines and the Nuclear Shipbuilding enterprise. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

Electric Boat is the prime contractor on the design and build of the 12 ships of the Columbia class, which will replace the aging Ohio class of ballistic missile submarines. About 80 percent of the work will be performed by Electric Boat, with about 20 percent being sub-contracted to Newport News Shipbuilding. Both shipbuilders will manage numerous vendors and suppliers to do this work. Early construction began in 2017 at the company’s facility in Quonset Point, Rhode Island. Final assembly and test of the Columbia class will take place starting in 2024 at Electric Boat’s shipyard in Groton. General Dynamics is investing $1.8 billion in capital expenditures to construct and expand its facilities to support the construction of the Columbia class, the world’s most advanced strategic missile submarines. The company's three primary locations are in Groton and New London, Conn.; and Quonset Point, R.I. Its current workforce is approximately 17,000 employees.

More information about Electric Boat is available at www.gdeb.com.

For more information about General Dynamics, please visit www.generaldynamics.com.

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Electric Boat awarded $2 Billion for Virginia-Class Submarine Material

GROTON, Conn. (March 20, 2019) - The U.S. Navy has awarded General Dynamics Electric Boat a $2 billion contract modification for long lead time material to support construction of Block V Virginia-class submarines.

The award modifies a contract awarded in 2017 that provides funding for long lead time material for steam and electrical plant components, main propulsion unit and ship service turbine generator efforts and miscellaneous hull, mechanical and electrical system components. This modification brings the overall contract value to approximately $3.2 billion.

“This award allows Electric Boat and the submarine industrial base to continue to make preparations for construction of Block V, which will bring additional payload capacity to the Navy. Our team will continue to produce the world’s most technologically advanced submarines, safely and efficiently," said Electric Boat President Jeffrey S. Geiger.

Block V submarines will include the Virginia Payload Module (VPM), an added section of the ship containing four large-diameter payload tubes. Extending the hull by 84 feet, the VPM will boost the submarine’s strike capabilities.

More information about Electric Boat is available at www.gdeb.com.

For more information about General Dynamics, please visit www.generaldynamics.com.

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