Some industry executives have said their companies have made investments in their infrastructure in an effort to compete and win future contracts as the U.S. Navy ramps up spending on shipbuilding programs, USNI News reported Thursday.
Todd Schurra, general manager of Curtiss-Wright, said at the Naval Submarine League symposium that his company invested approximately $50M in facility construction and retooling efforts in the past four years to reduce delivery cycle time.
W International CEO Edward Walker noted that his company plans to open a new $60M production facility to meet the possible increase in demand for its offerings as the Navy accelerates work on the Gerald Ford-class aircraft carrier and Columbia-class ballistic missile submarine.
The Detroit-based submarine components fabricator has letters of intent with Huntington Ingalls Industries and its Newport News Shipbuilding division and a five-year plan to boost its workforce to up to 1K employees, Walker said.
Jeffrey Geiger, president of General Dynamics’ Electric Boat business, said the company has encouraged suppliers to invest in their manufacturing processes and facilities through LOI and favorable financial terms in contracts.