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General Dynamics Prepares Shipyard for Navy Columbia-Class Submarine Construction

General Dynamics Prepares Shipyard for Navy Columbia-Class Submarine Construction - top government contractors - best government contracting event

General Dynamics Prepares Shipyard for Navy Columbia-Class Submarine Construction - top government contractors - best government contracting eventGeneral Dynamics has begun to prepare a shipyard as the company aims to secure a potential $6.2B contract by late 2019 to build the U.S. Navy's first Columbia-class ballistic missile submarine, USNI News reported Wednesday.

Phebe Novakovic, chairman and CEO of General Dynamics, told analysts during a conference call held Wednesday that the company plans to invest $1.7B in equipment modernization efforts to prepare for the submarine construction project.

“I am capitalizing for the ships that I know that I'm going to compete in,” added Novakovic.

The Navy awarded General Dynamics’ Electric Boat subsidiary a potential $5B contract in September of last year to design products and processes necessary to produce the new class of ballistic missile submarines.

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