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Navy Awards Long-Lead Dollars To Begin Construction of Second Virginia-class Sub

DDN

Tuesday, May 3rd, 2011

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By Carlo Munoz Development and construction work can finally begin on a new Virginia-class submarine, with the Navy awarding General Dynamics [GD] Electric Boat $1.2 billion in long-lead funding last week, according to a company statement. The award puts the company back on track to begin construction on the submarine later this year, and puts the Navy's shipbuilding plans to construct two Virginia-class subs annually back on schedule. Hunington Ingalls Industries [HII], the new shipbuilding spinoff from Northrop Grumman [NOC],…

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