GD to Invest $2 Billion in Shipyards

GD to Invest $2 Billion in Shipyards February 5, 2018

General Dynamics decided to invest about $2 billion into its shipyards in the coming years to meet the demands of a growing U.S. fleet. 

The company is planning to spend about $1.7 billion at its Electric Boat yard in Connecticut as it ramps up for the next iteration of the Virginia-class attack submarines, the Block V, as well as the Columbia-class ballistic missile submarine. The Block V includes the Virginia Payload Module, a new section inserted into the ship that gives the Virginia-class sub the capacity for up to 40 vertically launched Tomahawk missiles. On the other hand, Columbia-class will be the replacement for the aging Ohio-class submarines, with advanced procurement beginning in 2019.

The company will distribute the remaining $200 million between Bath Iron Works in Maine and NASSCO. 

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