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