Electric Boat Receives Half-Billion-Dollar Award To Help Submarine Suppliers Expand
22 May 2019
The Navy awarded General Dynamics Electric Boat nearly half a billion dollars to help shore up its submarine supplier base through equipment purchases and plant expansions.
The Department of Defense 2019 Appropriations Act included this money, aimed at addressing the health of the companies that supply Electric Boat with components and the lower-tier companies that supply the suppliers, according to the Navy.
The $497-million award is a modification of an existing contract for Electric Boat to build the Columbia-class ballistic missile submarines (SSBNs), the Navy announced Monday evening.