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Navy Awards General Dynamics $14 Billion For Block III Virginia-Class Submarine

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By Geoff Fein The Navy Monday awarded General Dynamics [GD] a $14 billion multi-year contract to build eight Block III Virginia-class submarines. The contract marks the effort by the Navy to move toward building two submarines per year in FY '11. The contract immediately provides $2.4 billion to fund construction of SSN-784, which has been named the North Dakota; advanced procurement for SSN-785; funding to purchase materials, parts and components for multiple ships at one time (SSN-785 through SSN-791, as…

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